ITC trade ideas
ITC - Bat Combo with Bear convergence on RSIITC's current RSI with bear convergence might pull down from current price to 190.85(to complete Bat pattern D Leg) before moving up to complete the D leg of reverse Bat pattern. Yeah baby Bat pattern within reverse Bat pattern
Get your own analysis done before getting in to trading this Bat combo my way
Trade 1: Short: 200.25; T1: 190.85; SL:205
Trade 2: Long: 190.85; T1 227.30; SL: 185.75
ITC - AN EYE TEASER ITC a perfect text book picture worth millions. The recent action post the 200 break kept above the mid of the upward sloping channel. True to its history of underperforming could not sustain the up move and slide towards the middle of the channel now acts as strong support. For those who love only longs and fear the shorts this is the place to place the bets. Long here and dips to 218 stops 212 for move to 250 and then 260. Shorts will smoke their money out.
itcshort covering is going on for 3 days, seems like it will go 245 in short term above 250 we can expect greater moves
ITC - It seems trend is about to changeITC is consolidating and stuck between a range from around 200 to 220. A good support and resistance levels for swing traders.
BB - indicator is showing clearly the change in the trend, but it will consolidate for few more days(may be a week or more).
MACD - Sell off pattern is also changing and hoping a reversal soon.
All of above pattern shows that the stock is getting ready for long, but it will take some time.
A long entry is fine as long as the stock is ranging between 200-205, TGT - 217-220, SL- 196
All of above mention details are for self learning and education purpose only, please DYOR before making any decision to invest into the stock.
itc - sidewaysitc is in a sideways trend .buy can be done with a stop of 202 and trg of 212.215, 220 but if breaks 199-202 range then going down to 183-185 not ruled out.
ITCDisclaimer: I'm.not a SEBI Registered financial advisor all views posted are just for mutual learning and I'm not responsible for your profits or losses ,build your own conviction through learning and take action ,don't enter blindly , I hope this post add some value to your learning 😊
About stock :ITC is forming a Triangle Pattern and looks good upto Rs365 ( minimum hldng period 1year& Ardmore around 190levels) for very short-term traders Targets could be 220&235 StopLoss -199
ITC LevelsLooking at current levels at the strong support one should be cautious. If the support breaks then exit from this stock.
ITC Long OpportunityITC trading in a parallel channel near the support line ( The parallel channel can also be interpreted as a flag pattern )
Would wait for a confirmation on 15.03.2021, to see if the support holds
Targets would be around 229-232 with an added possibility of a breakout
Please do not consider it as a Trading recommendation!!
ITC--compelling buywe are near to completion of 2nd wave and MACD ,RSI all suggesting it fibo retracement and 3rd wave suggesting 1st trg of 250-60
ITC on inside Weekly candle but a quick profit target It has formed an inside bar on weekly a possible scare in the market but we can expect this target be easily made .
