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ITC trade ideas

ITC IS GOING TO HIT 500!!!Once share break the green line and it gives positive signal to enter for long term target 500 but 392 is near support too. If by chance it breaks then near term short position will be chosen. My 1st Target is 427 2nd Target is 450 Since volume is increasing day to day and it is near to support and moreover, reason for downward is BAT going to reduce its stake. I doing to think it will happen at this level. So chances of upward is more as compare to downward.
NSE:ITCLong
by sunnyfutures
ITC wave analysis, trendlines, and targets if breakout is givenA. Elliot wave - Seems to be in wave (iii of wave 5) This script seems to be in the last leg 5 of Elliot wave after spending good amount of time in wave 4 (minor correction phase), if so wave 5 need to be smaller than wave 3 length (290 points) a. It can be of length similar to wave 1 ~= 140 points target of ~540 OR b. it can be 1.618 retracement of wave 4 ~=160 points so target of ~=560 OR c. If it moves above 560 area then will have to wait till top is formed to assess the wave formation again. For this first it need to cross over 461 on weekly closing basis, then 478 and 500, 526, 538, 560 can be the targets, trailing stop loss strategy must be followed strictly. B. 3 While Soldiers Pattern on weekly basis in formation : 3 white soldiers formation on weekly basis is likely to form end of this week if stock holds above 450 then it will be a healthy one. C. Trading near long time resistance trendline: Closing above 461 will be icing on the cake as that will be above resistance trendline drawn in yellow. A trade must be executed above the trendline only as that can be the short covering area from where stock can see a fast up move. *** Please note this is not a trade advice but just chart analysis study shared for educational purpose, one must do his/her own analysis before taking any trade.
NSE:ITCLong
by brainyAccount81243
ITC LTD BULLISH WITH CONVERGENCE OF SMA SUPPORT NEAR 430ITC Ltd. is an interesting chart to keep on radar and buy on dips with following 1. RSI on all time frames i.e. Daily / weekly/ Monthly above 60 2. Convergence of Moving Averages i.e. 20 day SMA =432 50 day SMA= 433 100 day SMA = 425 200 day SMA = 430.50 Making it a case of Strong strong price support at 425-435 levels. 3. Price Making higher highs for last 3 days 4. Price Close above both last week and last month's high 5. ABCD pattern under formation on weekly chart Fundamentally : Company is almost debt free. Company has a good return on equity (ROE) track record: 3 Years ROE 27.5% Company has been maintaining a healthy dividend payout of 92.4% Can be a very better Risk reward to buy on dips and dips only with SL below Moving Average Convergence zone i.e. 420-425 CAUTION: MINOR RESISTANCE NEAR 460-465 ZONE Lets See How it evolves. Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
NSE:ITCLong
by rajivrajeev
ITC's Key Support & Resistance: Trade Smartly!Current Scenario: • ITC is currently trading at ₹429.05, showing signs of consolidation. • The stock has tested the support level twice (T1 and T2), indicating strong support around ₹402.90. Key Levels: • Entry Point: ₹416.25 • Stop Loss: ₹402.90 • Target Levels: • Target 01: ₹437.90 • Target 02: ₹444.70 Analysis: • The stock is forming a pattern where it respects the support level, which could be a good opportunity for a bullish entry. • The previous low and support touches suggest that buyers step in around these levels, providing a safety net for long positions. Trading Strategy: • Bullish Scenario: Enter at ₹416.25 with a stop loss at ₹402.90. Look for the stock to move towards the first target of ₹437.90 and possibly extend to ₹444.70. • Bearish Scenario: If the stock breaks below the stop loss level of ₹402.90, it might indicate further downside risk. In this case, it’s advisable to exit long positions to prevent losses. Conclusion: • ITC is showing a well-defined support and resistance structure, offering clear entry and exit points. • Traders can leverage these key levels to strategize their trades effectively, minimizing risk while maximizing potential gains. Keywords: • ITC Stock • Technical Analysis • Support and Resistance • Trading Strategy • Entry Point • Stop Loss • Target Levels • Market Analysis • Stock Trends
NSE:ITCLong
by OptimaltradeX