Expecting Trendline Breakout ✌✌✌This scrip is expected to give trendline breakout as it is on the verge of breakout. So traders keep on your radar to catch the momentum and enjoy the profit. Thanks to all.
ITC trade ideas
ITC waking up from deep sleep ?A lot of news has been going around ITC. It has been sleeping for a long time but the recent price action towards the upside breakout looks promising to push it to its recent highs. It has gathered itself from a good support level of 200 and given a good breakout from the long trendline on a daily timeframe. A good 6% move in barely 7-8 trading sessions suggests a good up move is forthcoming after a long long consolidation phase. Note that the volume on the breakout candle is way more than the average volume, which pushes ITC's case for a strong buy position.
One pullback and support from the trendline will be a healthy move for it.
Near term, the target is around 218 and if it breaks and closes above 218 then it will not be long that ITC breaks its recent all-time high.
ITC lovers... this stock in a SUPER Bullish scenario can do 380+This stock hasnt moved since a long time now, and now if this "WISHES" to move then no one can STOP it, investment stop loss can be weekly close below 195
ITC: Trend line Reversal and looks profitable in long termITC uptrend reversal and RSI breakout on daily chart.
One repetative pattern found
In every 69bars price touch from lower trend line to upper trend line
and increase in price of Rs-74.
if it follow same pattern it will touch Rs:270+ by october end with stoploss of 190.
Its my personal observation do investment after consulting your financial advisor.
Please like & comment to motivate.
Happy investing :)
ITC Triangle Breakout - LongHi Guys,
Please find our analysis for ITC Ltd!!!
Script has strong resistance at 220 and Trendline will act as the resistance too.
Now the script has braked out the triangle pattern.
Trend was reversed from downtrend to Uptrend as weekly chart was formed Higher Highs and Lower Lows refer the screen shot:
Confluence Zone:
1. CPR Bullish Breakout
2. Price Action - Triangle Breakout
Buy above - 212
Target - 238.00
SL - 205.55 ( Closes Below in Daily Time frame)
Regards,
Thenali Views
Disclaimer: Kindly do your own analysis before executing the trade or
contact your financial advisor.
ITC- HEAD AND SHOULDERHEAD AND SHOULDER
Trading below 200EMA since Aug 2019
If closes below199 with volumes then we may see further downfall till 183 as first target and 164 as final target (Head and shoulder pattern target)
Late night Technical analysis talk - 15 STOCKS We discuss potential stocks provided by you guys only in my DMs and comment sections so give your stocks in comments and DM me for tomorrows video :)
👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins
✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows
✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges, and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts
✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position.
✣ Supply/ Demand: In the supply zone, the prices are higher than the bid price, and in the demand zone, they are lower. The bid price is what a trader is willing to pay for a stock
👑 Important levels - explained well
👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :)
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls
ITC (Decending triangle pattern formed)let see the price action = Decending triangle pattern formed and breakout .
CMP=212
1 TARGET= 220
IT IS MY OWN ANALYSIS
PLS TELL YOU OPINION ABOUT THIS STOCK.
DATE :23/7/2021
=== TOMORROW ITC Q1 result.=====
ITC - Long - Breaking out of consolidation ITC has been consolidating from very long period and it is consistently holding the support of 200.
Looks like ITC has broke up the rianlge pattern.
Triangle Pattern:-
IF breaks triangle upside Buy at 204 for target 240
Buy at 207 -
SL - 197
Target :- T1- 221 /T2-240
ITC TRINAGLE PATTERN BREAKOUTTRIANGLE BREAKOUT DAILY CHART
TARGETS
218/226/238
STOPLOSS 205
MACD POSITIVE CROSSOVER
