ITC trade ideas
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"
based on the technical analysis if there is a trend of pandemic based on only my predictions wait and watch to buy itc is getting slowed down as per the analysis since the hotel and tobacco are crumbling and food products are their only stand awaiting for a better price peace out
ITC - Long time no CITC has been one of the neglected scrips for better known reasons. Currently around the psychological 200 area should support towards 206 as min objective. Now around 201.50 stops 199.30 for 206 longs.
ITC Short Below 201.15 on 15 Min. And Long above 200 EMAUsed Fibonacci to create levels. You can see the video to clearly understand this analysis
ITC might retest this trending before moving upItc might come down till 180's then move upwards till 210
parallel channel price has made higher high and higher low inside a yellow parallel channel.
after its first blue trend inside channel it is making a potential white triangle.
Analysis of ITC for Short Term Investment.-Took support over demand zone 199-201
-If holds the support it will bounce to 210/220/225+ levels in coming week.
-View negations below 198
ITC Long oppurtunityITC is currently forming a falling wedge pattern once it breaks out it provides a fresh buying opurtunity
ITC LONG , Taking Support on Trend Line on DAILY and WEEKLY . ITC LONG , Taking Support on Trend Line on DAILY and WEEKLY . Good to but in this Price range for targets 220 , 240 .
ITC long Term SpeculationThe above chart NSE:ITC can either breakout or break down in the future with the future trends.
time frame = 1D
disclaimer: education purposes only
ITC DESCENDING TRIANGLE PATTERN ON 1HR CHARTITC is making a descending triangle pattern on a 1 hr chart. Good for Intraday and Short term. Look chart for further information. I have also marked the supply zone so BE careful in intraday.
ITC - Wait for breakout from pennantITC is consolidating between a triangle pattern. If it breaks above from the triangle, 236-237 will be the target we can consider, if it breaks below, 200-196 levels are ready.
This is just for education purpose and self learning so please DYOR before making any trade decision.
my EOD analysis 07/04/2021my eod analysis. long on itc for small profit. with the risk : reward retio of 1:2.10.
ITC ready for breakout ?ITC price is pushed to apex of triangle (Ascending triangle ) . Is it ready for Up move?
