Itcshort
Analyzing ITC Stock Using Fibonacci Chart: ShortfallIn this analysis of ITC's stock using the Fibonacci chart, we identify a potential "shortfall" in the stock's performance.
First Target at 412.6: The "first target" is a price level at which the trader or investor hopes to sell their ITC shares to lock in profits or limit losses. In this case, the first target is 412.6, which means the trader is looking to sell ITC shares if the price reaches this level.
Second Target at 392.15: This is a lower target, indicating that if the stock price continues to decline, the trader plans to sell their ITC shares at this price to mitigate losses.
Stoploss at 440: A "stoploss" is a price level at which a trader will sell their shares to limit potential losses. In this case, the stoploss is set at 440, meaning that if the stock price rises to or above this level, the trader will buy their ITC shares to cut their losses.
This information is often used in technical analysis and trading strategies to manage risk and potential gains when trading stocks. However, it's essential to remember that stock prices can be highly volatile, and there are no guarantees in trading or investing. It's crucial to make informed decisions based on thorough research and risk management strategies. It's also advisable to consult with a financial advisor or do your own research before making any investment decisions.
ITC--False Breakout @ATHObservations::
----->> Previously a strong sell of is observed @433 level, price again comes back to this level, if this is a false break out @ resistance sell below the resistance again.
Keep your stop loss @ 436. Look for sell opportunity, if price falls below resistance only.
ITC--Uptrend Resumes or end ??ITC stock observations:
---->trending upwards, broken a strong resistance at 390 (zone previous strong resistance)).
------>after clear trending upwards now price is showing some sort of consolidation, from this level the trend resumes again or reversal may happen.
watch this stock for short position.
As of now ITC trending, upwards can we expect a reversal from here or continue move towards up, we need to wait for further price action to short.
ITC OVERBOUGHT!!! SHORTING!!short itc till - 253,
TARGET 1- 282.
i know itc is great, and given great returns this year. but it has completed its waves and now its yet to fall, with a 3 wave correction. check the volume bars too, it has come to same volumes which were earlier(before corona movemets). i feel such that we can take short positions, but if there is still an upward movement in the stock, then i feel that it can cross 370 range too.