Strict Stop loss Rs 157/-. Failing which, likely to touch 110/- then 62/-. Now it is high risk long trade.
Rs 60/- down from recent high. Oversold - Likely to bounce till Rs. 200/-. SL 174/-.
It is likely - Time for bounce with Stop-Loss Rs. 1140/- for a Target of Rs. 1320/-
Appealing is Volume, which contemplates something more. The recent clue is Govt decision on Oil & Gas sector about foreign investment.
Will we get a bounce till 2050 from hereon? Love to watch the move. Risk Reward well placed for Bull.
Favourable Risk-Reward Ratio. Setup is bullish. Target Rs 560/-
Either loose 30 or get 100 - ratio placed with 3:10 good proposition.
Technical Analysis is essential after a due news flashes out. Some strong pattern formations are being undergone like Bullish Candle, already formed Triple Bottom and Rectangular Pattern is under process. Financials also support for the same.
Is ITC in the process of a Round Bottom formation? It seems so. Well bounced from Support level in recent trading session. Target Rs. 330/- as of now. Short term trader to watch the level Rs. 288 as Trailing Stop loss.