DOUBLE BOTTOM FORMED ON ITCITC formed double bottom if it break neck line buying opportunity will created..
ITCGX trade ideas
Contra Bet on ITC. Will it work?NSE:ITC
I have a detailed analysis on this stock and also know that many investors are frustrated holding this script. It is also clear that demerger is not happening anytime soon so we do not have a comfort for value unlocking from this parameter. But in a contra bet, script has a strong Fundamentals. According to the chart patterns, stock is trading at the lower range of bollinger band. This provides an opportunity to Buy at lower edge (Not trying to fish the bottom). Medium term trend suggests a direct hit of Rs.275 in 3 months. Fundamentals suggest risk reward ratios are favourable at current levels.
The idea shared is only for educational purpose.
ITChovering above major trendline , 339 will act as make or break level . keep an eye 353 on board . place sl at 332
ITC In minor trend resistance ITC In minor trend resistance and form triangular pattern if it break upside next resistance is 339 and second resistance is 346 if it break down its immediate support is 325 and i believe it break up side because it is in 3rd swing and Bullish engulfing candle is formed
ITC CHART ANALYSISITC Chart after Breaking Down his First Support Create Another Support At Lower Levels and after Getting 2-3 Time Support not its Come his Major Hurdle pr Resistance Point and Trying to Make Breakout with His Most Power
Lets See in Coming Session What Happen???
ITC Triple BottomWe can enter long position on the trend line breakout with bullish candle. We can expect target at around next resistance zone. Stoploss at swing low.
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Triple bottom in ITCPrice is forming a triple bottom pattern with a base of 325-326. 330 PE of Jan expiry trading at Rs4.30 has highest open interest. Indicating 325 as an important level.
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!!!
we see 300 or more down in ITCas per the chart, it seems that we will see a 300 or more low in ITC in the coming days
buying around 292 will be a good opportunity for getting a nice return in short period
#ITC - Bullish harmonics pattern. Lets expect a good up #ITC - Bullish harmonics pattern. Lets expect a good up
ITCITC had completed 3 of higher degree and now it's in wave 4. Wave can go upto 320 to 300. So Buy in this Range and Tgt would be 380/400...SL 285
#Itc cash : Looks good above 345.10#ITC cash -Positional call
13.12.2022
Looks good above 345.10
Stoploss 337
Target 358-360/370
(Make or break level 334)
Cmp 337.25
ITC 1D treakoutITC 1D Bullish, possible breakout.
1. Double bottom formation
2. Daily trend line breakout
3. monthly resistance testing
Good to go after 345 breakout with support at 334.10 and target 360 and 380.
Wait and watch. Analysis.
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...
