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.
ITCGX trade ideas
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.