ITC Make or Break ??!!!!!Chart Pattern itself explains well about the technical situation in ITC.
1. Channel from feb 2022 seems broken [/b ].(we need the next day candle confirmation for a definite move downside)
2. Bearish flag pole pattern (11th nov to till date) roughly gives a target a 18 points down side.
3. Fib levels too broken.
SL and Target levels are as mentioned in the chart.
Volume seems to be the concern for the channel breach candle downside .
Monday's candle seem to be important for the move either side. Wait for it and then Plan your trade.
Let's wait and watch!!!!
Note: Just sharing my view....not a tip nor advice!!!
ITCGX trade ideas
Double bottom on daily chart
charts seems to formed double bottom on daily chart.
Likely to breakout and could touch 370 in coming days.
Positive cues : growth in rural premium product(comment from managements) , Inflation has been soften and Holidays are upcoming so its positive for hotel business of ITC as well.
for Positional view :
Target : 346.9/350.35/354.80/368
SL : 336.5
Duration : 1-2 weeks.
ITC - DAY CHART - 07.12.2022 - BAHAVAN CAPITALITC as per Day Chart Analysis Stock ABOVE 345 TARGET 348.
Today 07.12.2022 Again FII Net selling continue to 1241.87 Cr and DII Net Buying at 388.85 Cr.
There is a Possibility for Nifty to touch 18425 Level. So lets wait and watch...
Happy Profitable Trading to All...
ITC buy and hold moving towards all time highNSE:ITC
ITC 26.11.2022
CMP 340
ITC formed a demand zone at 325 -333 and retested it , It is getting support at this price.Buy and hold for the first target of 360 then a new ATH. time frame 6 months.
Disclaimer: Analysis is for training and education purpose. author may enter in trade, take your own decision , This is an trading idea not an trading or Investment advice. consult your financial advisor before investing.