ITCGX trade ideas
ITC Short Term Breakout tradeITC was just consolidating for or a long time. There is nothing wrong in the fundamentals of ITC so I think you can hold it for long term also. And Today it gave a good breakout with volume, I Think now we can think of levels of 300 in the future too. As ITC is demerger will make this stock rocket and now's the time to book your ride. I can give more information about its fundamentals, Just write it in the comments
Buy above the breakout line
No Sl
First Target is 228 and further will be provided soon
Less Risky Trade
Thanks Everybody
Happy Trading
Do like and follow if you find it worth for
[POSITIONAL] ITC LONG BET risk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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ITC - Explosive Breakout is need to be witness Hi Friends,
We are now going analysis the ITC Ltd!!!
ITC was in the consolidation phase for more than 9 Months.
Let Analysis the possibilities:
1. Script was in the consolidation phase.
2. Script Volatility was being Flat.
3. Script was in the descending triangle pattern
4. EMA 200 was flatten from downtrend
5. MACD in Hightime frame i.e. Weekly was flat.
6. Stochastic RSI in Daily and 2HR time was in Oversold region. In weekly TF it was nearing Oversold Region
7. The script was in the Support Zone with Strong Buildup.
Overview:
As per our analysis, the script breaks the Triangle pattern . The script may witness the huge move.
As per our though we call this script will be brakes in bullish side.
Hence, we can go Long once the breakout happens with small quantity and once pull back (like Bull Flag etc) or Retest we can add the script (For Conservative People)
For Aggressive and for good Risk to reward:
We can go Long now with value of 199-203
SL - 199 - 1ATR.
EMA
Stochastic RSI
ATR
MACD:
Consolidation Phase:
If like our idea, Like us and support us.
ITC swing idea (Long)ITC stock has formed a double bottom pattern on day chart & ascending triangle on weekly chart.
-->The stock has not retested it previous support zone of 200 and have sustained above the support zone consistently .
-->ITC moves slower, one should buy for a higher time frame (2-4months) with double bottom as your stop loss.
-->If break out happens a very significant rally can be seen on upside.
BO🟢 ITC notices a price volume breakout on daily scale.
🟢 Breakout above all major moving avg 20/50/200 DEMA
🟢 TrendRider, SuperTrend, #RSIStairs all gave buy signal
🟢 RDX momentum score is 3 star bullish. Can trade high.
🟢 Breakout above #DescendingTriangle trendline resistance
🔴 Monthly RSIStairs is still trading lower. Yet to breakout
🔴 Stock still trading below precovid levels when #Nifty at ATH
[Positional] ITC Compression BreakoutIf it does not break, You don't buy it.
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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