- On Weekly timeframe, Nifty 50 has given breakout on upside of the Flag and has resumed on Uptrend.
- Has broke the all time high recently and overall it is ** BULLISH **. No Major Down trend signals yet.
- On Daily Time frame, Nifty 50 has taken a halt and has shown a red candle on last Friday (04 Jun 2021).
- Nifty seems **BEARISH ** for Monday session...
ITC is changing its trend from down trend to up trend, but need to wait till we get confirmation from RSI .
Watch for the RSI to cross above 60 on daily basis and enter the trade if it takes the support again at 60 levels or 50 levels
1. Stock is at its 200 EMA support level.
2. Stock is trading lower than 50 day EMA from 26 Jun. High for the Jun month was 324.20, since then stock is in the downtrend.
3. If the stock moves upto 310, it can go up considering the current down trend at support for its up move OR it can just take a pull back and come down to continue the downtrend.