ITCNSE:ITC
*Not a financial advise just a prediction not responsible for loss.
ITC giving a triangle breakout by a new in a bullish channel followed by a bearish channel.
#TA
ITC trade ideas
Added a few of ITCAdded 30% position in ITC. Will look to add more on the retracement. Reasons to buy:
1. Long term channel support.
2. 200 days SMA support.
3. Pennant Pattern break.
4. High volume on Daily and hourly.
Note- Don't trade according to my ideas. It is only for educational purposes.
pennant pattern - ITC stock stock in good pennant pattern with taking bounce from monthly support line
but can correct more before breakout add in list
good only if rertested
[Bounce] ITC Buy IdeaI did not drew the ITC downtrend swing chart.
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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best bounce back to be noticed in the coming daysfundamentally great stock, can expect it to go to 270 range in the coming months, consider this as a mid term investment
ITC CHARTmay here chance of bounce back and it can start relly for 340 target as might be company announce demerger soon n got perfect support of 200 moving average and also support by trend line , good for holding now as its lower level, also its running between falling wedge pattern. best of lck
ITC important levels for long term investmentITC important levels for long term investment
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
[POSITIONAL] ITC LONG BET risk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
=======
I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
=======
Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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ITC bearish setupITC has turned to short bearish. if it breaks the support at 215 then next target will be 203
Short position in ITCA short position can be created in ITC.
Took retest of the support line which is now acting as a resistance.
Head&shoulder in ITCITC formed Head&shoulder and neckline broke on 26Nov
Target1: 217-215
Target2: 202-200
Resistance: 224
Support1: 217-215
Support2: 203-200
200EMA :218
Possible W Pattern ?Double bottom support, Take off can be possible from here to achieve Target 1 at neck line and Target 2 at ATH.
Bearish Pattern on ITC, Head and Shoulder on daily chartsITC is forming Bearish pattern of Head and shoulder on daily , same is supported by Consumer Index, once the neckline is crossed this can move downwards with momentum
ITC ITC form head and shoulder pattern, Right support prize 216 may be fall this prize, if the break this prize high then again market reach high, if the break low 216 then share will fall so carefully watch.
ITC have some diwali crackers something happening in itc today yesterday long buildup increasing in itc so we can be consider that stock may bi take support at this levels and go above to break the consolidation zone
ITC LongI hope you can now see how ITC represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these charts are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
ITC looks weak on chartIf today's closing is below Rs 235 then it will go down and in that case, the down target will be Rs 230 and Rs 226.
