ITI , Strong presence in the Defense sector , looking at multiple support & Resistant in the chart , also a kind of FLAG appearance & the breakout in UP SIDE & gap up opening on 18 June & increase in Buying interest crossing 12 DAYS MA , moreover with the presence of SMART BUYER,probability to go at the target of 116-118 Rs with SL of 98 ,as nifty will remain in...
1) Form a box, from the wave starting emcompassing bodies
2) Since none of the BoxBO are yet complete
3) Start the point low candle where CCI34 crosses above
-100 till current High with Fibonacci Extension Tool
4) Tool will give you the targets 117.45/128.45/146.30
5) For duration count the candles from CCI crossing > -100 will CCI>100
Here 27 candles acumulation...
1. ITI is looking good at CMP number of demand zones but I am interested in DZ 1 and DZ 3
2. Demand Zone 1 why I am interested in the zone because of Gap up of 4th of April,
ITI may fill the Gap and rally
3. Demand Zone 2 is Weak zone is not fresh it has tested once so will avoid entering into DZ 2
4. Demand Zone 3 is the strongest Zone I will blindly Place...
ITI Ltd Posted very good result - Q3 -
Total revenue 357crores vs 220crores YoY
Profit 76 crores vs (70) crores loss
Can be test 230+ levels in short term..
Just a view from learner..
symmetrical triangle formation going on in daily and weekly
volatility decreasing and BB is squeezing, breakout to be followed soon.
since it was in an strong uptrend, upside breakout expected here.
safe traders should wait for breakout. Risky traders may enter with a sl - 91.
we ll discuss on tgt after the breakout.
My favourite triangle formation in price action as well as in RSI indicator :) Can invest when the price action breaks the triangle and closes above 104 for the targets 120, 150 and 160. Always consult your financial manager before investing.Time duration is one to one and half years.
