ITCGX trade ideas
ITC - Looking Weak & Rising Wedge Breakdown PossibleNSE:ITC is looking weak on daily and weekly charts. ADX just crossed 25 ( threshold that I consider ) for directional movement. The downside momentum can continue for targets mentioned on the chart as T1, T2 and T3. The conviction comes from simple price action setup ( weekly doji close and the current week candle closed below doji close ) and open interest data
Positional weekly target also listed if we close below T3 decisively.
Let's see how the story develops. Best wishes!
Disclaimer -
- The opinions expressed here are my own. This is for my own records as well as what I see on charts.
- If you are referring to this, please keep in mind that it is only for educational and research purposes.
- Past performance is no guarantee of future results.
- You must accept responsibility for any decision you make. DO NOT TAKE THIS AS AN INVESTMENT RECOMMENDATION.
- It's your hard-earned cash. Trade / Invest wisely, keeping in mind your trading style, goals and objectives, time horizon, and risk tolerance.
- Before investing, conduct your own research and consult with a financial advisor.
TIA!
ITCITC:- Rounding bottom pattern is formed, strong stock for short term, keep an eye
You can plan the trade as per your risk appetite now
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
intradayyou can buy on breakout or you can sell at resistance
both side potential
avoid first 15min breakout
wait for 15 min candle closing
targets are marked
if the breakout comes after 10:00 am then the probability of winning will be more.
follow risk management
do your own analysis
do workout
do meditation
start reading books
ITCITC
Time frame - 15 min
1. Bullish engulfing pattern seen (Bullish)
2 Ascending triangle Pattern (Bullish)
Conclusion
1. ITC is in correction phase
2. It is making ascending triangle pattern which is bullish pattern
3. If ITC breaks 379.25 then more downside seen
4. If ITC breaks 386.35 and closes above then more upside may be seen
This chart is only for educational purpose
Do your own study before taking any trades
ITC We can Expect the Target upto 403: 5% upside movementITC, Breakout happened on the upper side, so as per cup and handle we can expect the target up to 403.
NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
NOTE: RESPECT The risk. SL should not be more than 2% of the capital.
Happy Trading
Attempting a BUY on the cigarette, FMCG, IT giant : ITCin.tradingview.com
In the recent days ITC's moves have been really impressive with spike in volumes and the price movement. It is also worthy to mention the fact that the price it is currently trading is ex of the 6rs dividend which was adjsuted in the price on 15th February. I would like to clearly and openly state that right now I am not comfortable with the markets. Selling pressure comes from anywhere when market tends to attempt a slight upmove. Also, US markets have been equally unsupportive and a party pooper.
Despite all the negatives in the markets, in these times, markets are rewarding the underperformers, be it ONGC, COAL INDIA or our stock in focus ITC.
Coming to the trade, here a BUY trade can be attempted in ITC with a bi weekly tenure, where buying range can be 384-385 , SL : 379 and it can be played with a target of 400 ++
The strength with which ITC is breezing through the market is really impressing me given the times where market breadth is so poor and not to forget the attractive valuations.
If you attempt the trade, it is worthy to keep the trade in control as I would again like to iterate, the market texture doesn't look so healthy.
ITC - All Time High BreakoutSo this chart of itc is in the weekly time frame, as you can see that, it has given a breakout of a trendline with a great volume of buyers.
And after a breakout, there were two green candles consecutive, with this it has broken its all-time high.
After the breakout of all time high, there was an opposite candle and then we got an inside bar so we got two entry triggers and we can see more of a good rally after the breakout of the red candle's high.
So our entry price will be 390 level and our stop loss will be low of the red candle and target you can expect big.
Note - I'm not sebi registered, this is only for educational purposes. Do your own analysis first.
Bullish Strong stock:-
. Strong on 1 week And 3 months.
. High volume than 21 days average.
. Above 200 moving days EMD.
. Near 20% to 52 week high or all time high.
. Outperform nifty.
. Open interest needs to buildup in last 3 months data.
. Breakout with volume.
. RSI above 50
. Trading view buy and strong buy tag on both by investor and technical.
. Trading view weekly and monthly both should be buy or above as per technical analysis
What next ? please see.This is long term wave count of ITC.
its 3 rd wave in progress.
Way back I had posted the chart of ITC.
I have attached that chart with this,
please go through my recent posts of sbi,hdfc bank etc.
and bank nifty too.and not to forget adani ent.
Adani ent has rewarded handsomely to all my follwers.
don't forget to like this post.
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