ITC 1 hour Trading in the up Channel
Look to enter at the bottom of the channel OR short at the top line of the channel.
I don't have targets (just keep the stop losses 60/75 basis point below or above respectively
NIFTY is trading between multiple channels, Go long only if breakout above 8180 else NIFTY can recede back to 8020-8030 levels in couple of days. We will then see if the downward break happens or not. Shall revisit that when time.
Stock is trading in Bearish channel and if in coming days Top of Wave 1 (180 level) is taken out, then Impluse Elliot pattern would stand invalid and the stock should head down to 160 levels which is major support.