ITC : Make or Break Situation As said earlier to go short below 435, But ITC bulls didn't gave up and holded to it's neck line. Today ITC closed at 443 making range of 7 points only for last 7 days. In previous trading in June ITC had made same pattern (see green horizontal line).
Conclusion
Range had narrowed down, so break above or below is immennient.
After narrow trading range it expands, this will mak ITC volatile.
Entry is clearly visible , sell below today's low with today's high as SL and buy above 446 wit 437 SL.
Caution : Sellin is in F & O so if SL triggered the loss is 1600 x 8 . and if hit trgt of 385 then profit is 1600x 50. Risk reward ratio is 1:6
If buy is triggered then one can buy in cash.
ITCGX trade ideas
ITC : Trend analysis, Daily chart Long or Short ITC, One of the ICON of Indian Stock market . It's one of the stocks which is performing exceptionally well in comparison to MNC's like Reliance, TCS etc.
Even after the fall of 10% from the recent highs, the stock is still on undecisive on trend. As there are no strong supports till the price levels of 370 we can expect a another 2-3 months of consolidation till 410. Once if the 410 levels are broken we can buy at 370 levels which is a 25% from all time high. As a high standard stock we can expect another 5-10% fall and then to rise again to new highs irrespective of Indian market giants.
Distribution overThis is my trading journal, not a trade recommendation. Idea presented only for educational purposes for me and others who want to benefit from my experience.
it is long if cyan line is taken out; if market respects this resistance, it is short. point of decision is here.
DISCLAIMER:
Trading in the stocks market or futures markets is on e of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.
This is one person’s experience, your experience may differ. Past performance is not guarantee of future gains.
ITC Looks Bearish As per technical Analysis and OI data ITC looks Bearish,
ITC is having support Near 469-470 Level if its break with volume then possibly we can see 460,455 level on chart.
if you are ready to take position then go with hedge Trading strategy.
Buy ITC 473 CE Near 6.90, and sell ITC Future July Near 470, SL 475, Target 463,460
Investment required 35000
Only for Educational Purpose.
ITC Important levels for the year 2023NSE:ITC NSE:NIFTY Major stock
DISCLAIMER: Do not consider this analysis as an Investment or Financial advise.This analysis is made for educational purpose.
ITC Aalways had been a favourite stock for investors and in this Idea i trided to analyse its probably bullish movement, although i have marked important Bearish level too.
Currently ITC is being trading in an important levels which might lead to the continuation of its existing Up trend.
ITC might be in a process of making a probable ascending triangle breakout in the coming days will be necessary to support this pattern and this Idea.
Important conditions have already been mentioned in the chart itself.
We might se profit booking in the higher levels so be cautious.
If till the year end we see ITC being trade in the higher levels then we might see either consolidation or reversal in the next year.But this is just an observation and in any sense it should not be considered as Investment recommendation or advice.
I took due care while analysing the chart but all my analysis is based on probable calculation and can be proved wrong at any point of time.
The purpose of this Analysis is to provide you an edge to your existing experience, knowledge and trading strategy, so club these levels with your own set of skills regarding market and you will definitely find these levels of immense use.
All these analysis took lots of time and effort so if you like this idea then do support it and I will be updating throughout the year so don't forget to subscribe.
ITC - A viewpoint NSE:ITC
ITC Limited is a holding company engaged in the marketing of fast moving consumer goods (FMGC). The Company operates through four segments: FMCG; Hotels; Paperboards, Paper and Packaging; and Agri Business.
TTM EPS: 12.01
TTM PE: 21.40
Sector PE: 23.75
Book Value Per Share: 47.87
P/B: 5.37
Face Value: 1
Mkt Cap (Rs. Cr.): 316,769
Dividend Yield: 4.18
Some Positives:
Company with Low Debt
Increasing Revenue every quarter for the past 2 quarters
Increasing profits every quarter for the past 2 quarters
Near 52 Week High
Strong Momentum: Price above short, medium and long term moving averages
Some Negatives:
Inefficient use of capital to generate profits - RoCE declining in the last 2 years
Declining Net Cash Flow : Companies not able to generate net cash
My Opinion: When the stock is in any uptrend, it forms base in stages. One should wait for a new base to form. 265 is an important resistance.
Can ITC cross 310 and go even higher? Absolutely yes. When? You never know.
NOT A RECOMMENDATION. ONLY FOR EDUCATION PURPOSE. Thanks.
ITC 🚨 Is the top in? No one knows.
Before making any decisions, carefully examine the chart, observe and analyze the price action, and identify your points of interest.
While the chart may look ugly for breakout traders and momentum catchers, a dip towards lower levels presents a potential opportunity for investors.
The key lies in understanding your trading style, time horizon, and expectations. What might seem expensive for one trader could be a bargain for another. It's all about finding the right fit for yourself.
Disclaimer : This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
ITC India - Here we go again4th base taken out. This is a relentless rally in ITC - now the top performing Nifty 50 stock by a long margin. It reminds me a lot of TESLA in 2020 - is ITC the TESLA of India?
Mutual Funds are buying the dip - they know this stock is the top performer and want in
We have made 4 bases since the rally started at 300+ in 1 year. Thats unique. Usually the 4th base fails
Institutional ownership has increased and the stock has touched the 21 EMA only a few times in 12 months. 50 EMA - hasnt even come close
Buying back in at 480 now - lets see how long this party lasts. If it pops below 21 EMA on volumes - am out!
Disclaimer - Trading stocks is risky (F&O is even riskier). 95% of traders as per SEBI statistics lose money - with 60% losing most of their capital in 12 months. So, the odds are stacked against anyone trying to make a living in the markets. All the ideas here for education & analysis only. Please do your own research before risking your capital.