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Itcindia

ITCITC has probably become the most hated stock in recent times, but chart is telling different story, it appears that the stock is currently in wave 3, and it has possibly completed a long complex correction in wave II of 3rd, and the stock bounced back from the support zone around 200, and finally it has given a fresh breakout of decending triangle or flag pattern with very good intensity of volume, the stock is set to start wave III of 3rd. one can go long at current level or in dips (if any), all the key levels are mentioned in chart with Stop-loss and Targets. Wave Structure, with channel and key levels Decending Triangle pattern Breakout Breakout with Good intensity of Volume, Zoomed View Weekly MACD Uptick Daily MACD Uptick BBC up Very Good positive Ungali setup RSI in daily above 60 uptick Disclaimer I am not sebi registered analyst My studies are Educational purpose only Consult with your Financial advisor before trading or investing
NSE:ITCLong
by RK_Chaarts
6
ITC Long term EW Wave countsThis is the EW Wave counts based on Monthly time frame log scale. (1) See how the Magenta Trendlines are driving the prices. These are long term and solid structure contained within the trendlines. Lower Trend line provides the support and the upper trendline provides the resistance. (2) Waves counted in in Red shows major/monthly elliott wave cycles. Waves in Blue shows sub waves within the major wave cycles. Waves in magenta shows sub waves within sub waves of the major cycles. Waves in the green shows correction waves in the major elliott wave cycle. This is preferred wave count, the alternate counts are not shown here and i will paste it later. Seeing WXY Correction as a part of Wave 2 correction. Seeing ABC correction as a part of Wave 4 correction. At this point, it most likely shows ABC correction but it may be turned in to complex corrective pattern. The structure in development right now is bit early to count it but as long as it stays above 180-185 zone, bullish structure is preserved and ABC correction pattern is complete. It we see monthly close below 180, it may turn in to complex correction and we may see dip correction. (3) Pl note that this based on monthly chart analysis and each candle represents one month. If present structure is preserved and ITC stays above 180, then the wave 5 (Red color) counts are wave 3 (Red color) top and we will need to see the reaction from then on. If you wanna learn Elliott wave analysis, pl have your account set up with Elliott wave international Also pl read Ellott wave book "Elliott Wave principle - Key to Market behavior by Frost and Prechter, one of the classic resource on the topic. Also, a relatively good free resource on the YouTube is Elliott Wave Tutorial Part 1 to 5 by a channel called "Wave 618"
NSE:ITCLong
by Kru-KB
ITC took Strong SupportITC has taken good support and rallied... buy buy buy... if you are not willing to buy in futures take options =>buy 215 CE sell 225 CE ... expectation is it will reach 225 so by that time expiry comes in and you can eat premium of 3200 maximum loss is 5500 if it starts falling down to 195 then sell one more 225 CE you will loose around 2k-3k which is nothing I bought 215 ce at 2.65 and sold 225 ce at 2.65 already at 700 profit... I think ITC is a good dividend yield company and holding it will give you 5 to 7% profit i dividend yield itself and if it rallies that is extra... so buy in stocks if you have money
NSE:ITCLong
by VamsiTrade