ITCITC already in rally. Broke resistance price and gave some up side move. Wait for retest support level. 472 is a Target.
ITC trade ideas
CAN ELEPHANT DANCE. Is ITC stock next to spit fire? 1. Graceful strenght : Elephants, despite their immense size, can move with surprising agility and grace. This could symbolize ITC's ability to navigate market fluctuations with steady growth and resilience. Even during downward trends, the company might maintain a strong foundation and retain investor confidence.
2. Unpredictable Turns : Just like an elephant's dance can involve sudden changes in direction or bursts of energy, ITC's share price could experience unexpected jumps or dips. This could be due to various factors like industry news, government policies, or global economic shifts.
3. Slow and Steady Wins the Race : Elephants are known for their patient and methodical approach. Similarly, ITC might focus on long-term strategies and sustainable growth rather than short-term gains. This could lead to a gradual but consistent upward trend in the share price over time.
4. Trumpeting Success : When elephants trumpet, it can be a sign of dominance or celebration. This could represent ITC achieving significant milestones or surpassing market expectations, leading to a surge in the share price.
5. Herd Mentality: Elephants often move in herds, with their actions influencing each other. This could reflect the influence of investor sentiment on ITC's share price. Positive news or analyst upgrades might trigger a buying spree, while negative news could lead to a sell-off.
ITC READY TO MOVE As we can see the reversal sign from MACD pointbof view where positive divergence is going to happened, and RSI is at 60 which indicates bullish momentum, so can have look for 470 CE jan expiry. Thanks
ITC_Respect_Darvas Box_Resistance_SupportThe Darvas Box Theory is based on a combination of technical analysis and strict trading rules. Here are the key elements of the Darvas Box Theory:
#Selection of Stocks:
Darvas looked for stocks that had the potential for strong price movements.
He focused on stocks with a history of significant price increases and volume expansion.
#Box Formation:
Darvas used a box to represent a trading range. The box is formed when the stock's price moves between a high and low range for an extended period.
The upper boundary of the box is the resistance level, and the lower boundary is the support level.
Darvas would buy when the stock broke out of the box to the upside.
#Volume Confirmation:
Darvas believed in using volume as a confirmation indicator. He looked for increased volume when the stock broke out of the box, indicating strong buying interest.
Low volume during consolidation phases was considered a sign of a weak trend.
#Stop-Loss Orders:
Darvas was disciplined about using stop-loss orders to protect his capital. He would place a stop-loss just below the lower boundary of the box after a breakout.
If the stock fell back into the box, the stop-loss would trigger, limiting potential losses.
#Riding Winners:
Darvas was known for holding onto winning trades and letting profits run. He would adjust his stop-loss orders to lock in gains as the stock price continued to rise.
#Continuous Monitoring:
Darvas closely monitored the stocks in his portfolio, keeping track of price movements and volume.
He followed a systematic approach and was known to be disciplined in executing his trades.
ITC long positionany one who loves fgmc sector can go with ITC because itc has shown bounce back from its support zone and yes it clearly say that it revrse from and short term bottom has been made around 436-442 . also ITC result come on 19th OCTOMBER CHANCES OF GOOD RESULT IS VERY HIGH SO IF ANYONE want to keep portfolio outshine than add ITC it will give you a hansdome return .Chances for positive return are very high so please watch or add in your watchlist .and if by chance itc price starts downword journey which has lower chance than keep sl of 342
itc long after long consolidation
itc seems cup and handle pattern chart appears
small sl good reward
ITC FLAG AND POLE RETESTDear Traders
i am not SEBI registered this is for educational purpose Only ,
ITC after breakout coming to retest on 20 EMA from there on bullish formation we can plan entry
Prior taking trade Pl consider your risk and reward
ITC NARROW RANGE BREAK OUTNARROW RANGE R1 BREAK OUT IN DAILY TIME FRAME I GUESS IT MAY GO TO THE PREVIOUS HIGH UP TO 500
narrow range breakout in daily time frame I guess it may go to the previous high up to 500
ITC COMING OUT FROM RESISTANCE ITC breaking long term #resistance
with huge volume
trading above 20 ema
educational idea only
ITC Breakout on smaller timeframeFMCG as a sector is in focus and heavyweight ITC lifted the index high, a breakout on smaller time frame is observed with being completed today.
ITC Bullish; above 455 on Monday 4 Dec. The above information does not constitute investment/trading recommendation and it is purely for educational purpose. Please check the Strategy below...
SWING Trading Strategy:
Position is created, only upon stock closing above the entry price on day closing basis and is held on for 5-10 trading sessions for larger gains (5-10%)
INTRADAY Trading Strategy:
1) Impulse upmove stage: The strong upmove (nearly upto 2% from breakoutprice) happens within five to 15 minutes. "High Risk Traders" buys in hope of another 2% upmove intraday.
"High Risk Traders" may have to patiently wait through the Pullback-Consolidation stage to realize profits. High risk/High reward set up as breakouts may fakeout (reversal)also
2) Pullback-Consolidation stage: After the above "Impulse upmove stage"; the price may then pull back and move sideways (between "Open" price and "High" of the above "Impulse upmove stage").
Safe traders with minimum risk profile may Wait for a breakout from the consolidation to enter at this stage to relize high profits in the final intraday final "Breakout continuation" stage
3) Breakout continuation: Stocks often in the third stage breaks up above the "High" of the first "Impulse upmove stage" and continue to go higher again.
Both Safe Traders/High Risk Traders book profits at this stage
Stop Loss: @ "Open" price of the day OR "Breakoutprice"
This do not constitute, financial, investment, trading, or other types of advice or recommendation.
ITC buying side movement possible ITC buying side movement possible
Buying above the 460
Stoploss 422
Target 538
INDIAN TOBACCO COMPANY, ITC LTD (ACCUMULATE)Sector: Fast Moving Consumer Goods (FMCG)/ Industry: Cigarettes/Tobacco
Market Cap: 561,159.09/- Cr. / Category: Large Cap
Current Price: 449.8/- Target Price: 483, 499,525/- Stop loss: 425
Ticker: NSE: ITC Recommendation: BUY (Buy @ Current Market Price)
Date: 03/12/2023
Highlights
We issue a Buy recommendation on ITC ltd. Based on a 3 -weeks target price of 483,499,525/-, offering a 11.3% upside potential from its closing price of 449/- on 01/12/2023. Our recommendation is primarily driven by Elliott wave theory:
Elliott Wave Theory Outlook –ITC ltd, Buy @ Current Market Price
December 03, 2023 By Dinesh Naidu
Hello traders. In this technical research report we’re going to take a quick look at the Elliott wave chart of ITC ltd. As our members know, the stock is showing impulsive bullish sequences that are calling for further strength. Our team recommended members to avoid selling, while keep favoring the long side. Recently we are in an Impulsive structure in a lower time frame. In the further text we are going to explain the Elliott Wave Forecast and trading strategy.
The stock has already given us wave ((2)) pull back that has unfolded as a Zigzag pattern in a 4 hours’ time frame. The price might reach extreme zone at 499-525, We don’t recommend selling the stock and prefer the long side from the 61.8 & 100% Fib levels. As the secondary trend might turn bullish in a higher time frame, we expect to see at least 3 waves bounce from our buying zone. Once price bounce reaches 161.8% Fib against the (wave 3) high, we will make long position risk free (put SL at Breakeven) and take partial profits. Invalidation for the long trades is at 425 level.
Disclaimer: I am not a SEBI Registered Research Analyst. The information provided here is for education purpose only. I will not be responsible for any of your Profit/Loss with this recommendation. Consult your financial advisor before taking any decisions.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as well as for you. You should therefore carefully consider your investment experience as well as financial condition before deciding if trading is suitable for you or not.
ITC TARGET 494 STOP LOSS 431The script is a breakout from the weekly downward wedge and closing above that with bullish. If it is sustain above in intraday 455 then it will reach the target of 494
ITC swing tradeDon't give an excuse now that you can't make money with swing trading.
Stock name: ITC and current market price is 449.
This stock has broken out descending channel pattern and 50 day EMA.
Current view is bullish with expected swing trading target around 490 for swing which is approx 10-12% and is very decent target for swing trading.
ITC#ITC gave a breakout from the trend line and is looking very good on the daily chart. After trading in a range for the past few months the stock is now ready to resume its upward journey.
When to sell_ ITCNamaste!
I have been tracking ITC for quite some time. Now, I see an upcoming bearish momentum in the coming weeks.
Q: Why am I saying this?
A: Well, all time high of ITC was Rs 367.70. It broke it's multiyear lows (of Rs 178.65) on 09 March 2020. So, it can be a long term pattern of "lower lows and lower highs". This price can be the next lower highs. Profit booking will definitely come at this prices, because there will be many investors who will be exiting "before Rs 367.7 prices". And Nifty did not break Apr 2022 swing highs, it is indicating an upcoming bearish momentum.
Q: When and at what price should I exit?
A: You can place a sell stop order at Rs 329.60, so you lock in your profits. I would suggest positional traders to do this. I repeat, prices must break those levels, so your order gets triggered and you exit.
For investors, they can consider booking/exiting at such prices as well. And they can consider buying it back at Rs 281 levels. I am not right 100% of the time, so only apply this when my points seem logical to you.
Disclaimer: The analysis I have shared is based on my understanding and experience in the markets. Prices may or may not reach mentioned levels, resulting in opportunity loss. Please do your analysis and/or consult your financial advisor before applying anything.
buythis is going to hit all time high soon as recent price has bottomed out hence expecting a rally from current price.
Positional_ ITC1. ITC can breakout from current range.
2. Higher Lows indicating a buying pressure.
3. Shrinking "price-range" is indication of momentum.
4. We can expect two targets of 226 and 237.
5. Upcoming result looks matter of caution.
6. SL and Entry will be decided afterwards.
Disclaimer: The views expressed in this article is of my own, you're solely responsible for any decision taken in the markets resulting in financial gains or losses. The analysis I've shared is just for informational and educational purposes only.
