ITC - SAFER AVENUE - BETTER RISK REWARDVIEW :-
CLEAR BO ON THE MONTHLY CHART & FORMING A UPWARD CHANNEL, LESS TO LOOSE FROM HERE, SAFER BET
SHOULD BE PART OF ONES PORTFOLIO
DISCLOSURE
This is only for educational purpose
This is not a recommendation
I am not SEBI registered
Do not TRADE/INVEST basis what I publish here
I am not responsible for your loss or gain
It is prudent to assume that I have ulterior motives in publishing this Idea
I and my clients might or might not have a position, I and my clients might or might not have a opposite position
ITCGX trade ideas
itc target achieve itc achieve target 😍.
always take positon. before stock going up and down because the real money is earned when you find a position before.manager always takes a position in the stock before people know. And when the public is interested one those stocks they sell his position and make money.
ITC Long Position in CashITC is has created a symmetrical triangle after falling in COVID Crash and currently resisting at around 240, which is near to falling trendline resistance on the monthly candle bar.
Considering a long consolidation of the past 6 month has created a strong base of buyers.
If stock retraced around 215-225 then, buy in small quantity till to 245 will be a good investor move.
Above breakout of 240-245, buy-on dip should continue till all-time high breakout.
Above all time break out, conside a TGT fpr 600-630-650 as profit booking zone.
Time is not considered but since, all stock had bull run then ITC, possibly a new high of CNX Nifty could come with support of ITC.
ITC is going updatrandingAs per today's observation, ITC has crossed its Breakout and is ready to go upside with a positive note, As far as the company has invested in new business in August so I can predict this is being impacted here moreover less. So here could be a good opportunity to buy this stock for the swing purpose.Thanks for reading this one.
ITC a hot cakeAccumulation stage is completed in ITC, now it is in First stage Distribution.
Note : On 20th, the difference between the buyers and sellers is 9.36 million positive, means buyers are in upper hand, but be careful because, they want to remove week hand out so they try to hunt stop loss.
Disclaimer: This is only for educational purpose. Please consult your Financial Adviser before investing your hard earned money.
My sincere Thanks for my masters Trading panthulu, Day trader telugu and nayan pokarkar.
“Triangular” Formation Breakout• On the weekly chart, the stock has
witnessed “Triangular” formation
breakout at 219 levels on a closing
basis along with rising volumes.
• On the weekly chart, this buying
momentum was observed from its
earlier breakout zone of 200 levels
• This buying momentum was observed
ITC Limited
Weekly Tech Picks 20 September, 2021
from 20-week SMA which reconfirms
bullish sentiments
• The daily and weekly strength indicator
RSI is in bullish mode along with
positive crossover which supports
rising strength
• The above analysis indicate an upside
of 238-255 levels
*Holding period is 3 to 4 weeks.