BUY ITC - POSITIONALBUY ITC ABOVE 215
TARGETS 228, 240++
SL BELOW 195 ON CLOSING BASIS
Disclaimer: All charts are for educational purpose. Please contact your financial advisor before investing.
ITCGX trade ideas
Good Opportunity Bullish on ITC / Buy Stock on Retest...
Enter on Bullish Engulfing or Bullish Hammer.
ITC Possible Descending Triangle Pattern ReversalThis is a trend based analysis of NSE:ITC . Price has not fallen off and has taken support at the MLY Support level multiple times. Although the pattern is almost covered by the price, it has not been bale to break the Support level. It looks like either a bullish break out is possible or strong price consolidation is taking place. As the stock is fundamentally a good value stock and only one of the big major FMCG companies to rally, it is a good point to accumulate the stocks at current price until the MLY Support is not broken with confirmation. Also, RSI is showing an uptrend movement and a value of 55 should trigger the breakout.
For those who are risk averse, note that price below 196 is complete exit which is the WLY Support zone. Keep this as SL.
Indicators Used:
RSI - default parameters
Trend lines at different timeframes.
Support - Resistance levels at different timeframes.
Disclaimer: This is not a recommendation. It is a guesstimate of where the price may be down the line. Please use this for your further analysis and based on your own analysis and risk management initiate trades accordingly. I'm posting this as a means to share and improve my knowledge and receive knowledge from others. Comments and suggestions are welcome as long as they are informative and helpful.
Intraday opportunityBuy around 233.70 or at 231.75 for tgt of 235 -37-40 sl below 229.. just a view better seek professional advice..
ITC- 212.4ITC- CMP 212.4. It has made bowl formation and if breaks above 213.7 then it can go up to 225. On previous day it went up by around 2% with almost double volumes. Results are also not bad. It can be taken at current price of 212.4 with a sl of 205 on closing basis for a target of217, 220, 226, 234. RSI and MACD, volumes are favoring. This is for educational purpose and any buying shall be done after consultation with finance adviser.
Levels for - 04 Oct 2021EXPLANATION : This is a 1 hour time frame chart of ITC , It has formed Symmetrical triangle pattern ; A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend , while a breakout from the upper trendline indicates the start of a new bullish trend . Both side levels marked in chart.
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ITC near Breakout 15M ITC is creating a Symmetrical triangle. it is also at very crucial level ie. 237 which wal acting as a resistance earlier but now acting as support for it.
200 days EMA is also near about 235. if ITC will break this pattern with high volume profile either side we can take position
you can go long above 240 and for short enter below 235 increased volume profile is must.
ITCMight retest the trendline...can add half quantities at current market price and remaining quantities at pullback between 228-230 range.
Will ITC be mooning soon? Buying opportunities..Looking at the chart, 234-240 had been a crucial level for ITC. For carrying up further or taking positions we might want to see its reaction to this zone. So, Go LONG if ITC sustains over this range or consolidates as it can give a good move towards 300 or above. Somehow if ITC breaks the zone towards downside, you might want to average out or buy at dips b/w 204-216. ITC must sustain over the current zone or show rejection from sellers for further rally. Before this huge move it had also formed up a Triple Bottom few days back that showed reversal and so it went pretty well. Here we will be getting up nice buying opportunities according to the setup.
ITC dominated by resistance trendlineClear case of resistance trendline coming in way of ITCs rise. It can break soon and move up towards the second resistance trendline whereas a u turn would continue the downtrend upto 195 levels where it can find support in the parallel trendline channel
ITC 😎ITC target reached of 17% check related idea down below, I posted when there was a trendline breakout.
ITC looking good above 242 levels for longITC has given a breakout after long consolidation. Now facing resistance at 240 levels.
Personally, I sqaured off half quantity and holding half for long term.
ITC | Good risk reward | 18-20% potential| Be patientCMP- 204
SL- 198 >>>> 189(more logical and
Target- 245
14/7/21
- Price moving in descending triangle
- Ascending channel and support zone confluence
- Major support zone - 190-200
- Moving averages still at negative territory
- Volumes have dried up in the recent trading period
- RSI aligned with price
ITC going to break its 52 week High?If you observe chart you can see a falling wedge pattern in ITC after an Uptrend.
Generally in such situation there is a major chance for trend continuation after Falling wedge pattern successful breakout.
Here I have marked A and B points that are nothing but the two points on the trend lines.Upper trend line is Resistance and Lower trend line is Support.
So If ITC successfully breakout, how to calculate the target?
Target = B - A = 239.65 - 204.35 = 35.30
Roughly you can expect 30 to 35 rupees target. (If trend continues we can get more.)
Where to take entry?
If stock shows breakout , wait for a confirmation candle. You can also use MACD , RSI indicators for confirmation.
If in worst case, stock breaks the support, it can fall further.
Consider this stock for a long term as this stock is commonly known for a slow moving stock.
Stock is fundamentally strong. Stock has a great dividend-bonus history. The Company operates through different segments FMCG, Hotels, Paperboards, Paper and Packaging and Agri Business.
We can expect some positive news for the ITC in current market situation because the Deliverable quantity for ITC stock is increasing day by day.
So in future we can surely expect an Up trend.
Disclaimer : This is my personal analysis for educational purpose. I am not sebi registered. Do your analysis before taking a position. I am not responsible for any profit or loss.
itc sustaning above 240 level we expect 250,264,270 level comingabove 270 monthly close breakout we take long term .sl 228.small hurdle resistance near 247 level.so keep radar on this week price sustaining above 240 then it goes to 260 level
ITCITC has a strong supply zone near 240 levels.
It fell from 240 to lows of 133.
For next leg of rally its important for it to sustain above this supply zone.
Spending few days above this zone will make it move towards 265 and eventually towards 300 levels.
ITC Intraday Trade Long SetupMy execution time frame zone will be 30 min time frame ...
Location of this demand zone 30min demand is low on the curve ( i.e close to High time frame HTF zone )
here it is Daily Time Frame zone is my Curve
Best thing is Our 30 min demand zone is near located to our Daily Demand curve
hence Probability of this 30 min demand zone is high
since I am plannng for Intraday I will take only 2:1 Reward -Risk ratio
Disclaimer:
Above Stock Analysis is based on Price Action , primarily on Institutional Demand and Supply .
It is for Learning and Understanding Purpose.
Even after a thorough research and Analysis a setup can fail due to any opposing News on the stock or on its Index or due to Market Volatility.
Hence ,if you trade on this setup kindly Take Position(Quantity) as per your Risk Management.
Happy Trading :)
ITC ABOUT TO BREA OUT MONTAHLY TRENDITC is about to break monthly trendline. RSI looks positive . we can enter if it breaks and retest the line.
Defensives' are in spotlight.
NOTE
1. PHARMA index is about to breakout. ( Due to defensive play)
2. REALITY INDEX has been upside . ( under values stocks are bought and expensive stocks has been sold)
3. Good MONSOON is good for ITC. ( buying due to good results on the way)
4. their has been some sectoral rotation , might be INDEX BALACING. ( ITC is undervalued also weightage is high in nifty index).
All above points show some good traction in ITC buying.
although One should avoid treading but put option selling might be beneficial if bought with hedge.
ITC 4HOUR CHART ANALYSNSE:ITC
Hi helo vanakam.....
In this post, I would analysis ITC company in India stock market....
Market will small corrective in4 hour chart now a time.
I plotted a 2Torget in 📊chart...
So wait for correction after go to entry peoples
Important notice:
This is only education purpose
Not for decision taking,
Trading or investment is your own decision with your own risk....
