ITC trade ideas
Average up/downITC is one of the finest stock in equity markets. Triangle pattern breakdown was occurred at 204-205 on 07/01/2021 which shows the opportunity to short, BUT on 12/01/2021, spinning top candlestick has occurred which indicates uncertainty in price action.
ADVICE: Average up/down by buying half at high/low and buying other half at low/high.
ITC Jan 10-15 Target 232ITC has been underperforming in 2020 with all its peers shining so a bet on the ITC. With FMCG at an all-time high, this cant is at this price(I am not an expert fundamental analyst but it's just a feeling). Let's move into the technicals.
A very beautiful Cup or rounding bottom chart brings the ITC target to 232 in January and the monthly candles are creating a very nice double bottom pattern and a W recovery.
Close below 207 I will exit my trade for Jan 210 CE
I purchased it at 9.15 for a chart target of 232
ITC - A CRYING BUYITC has been in the eye of storm by the investors for its inability to break the 200. Now that it broke, met the resistance and then fell near the 200, we complete action and reaction. The current phase is resolution. Ideally this calls for double the size of the positon, place the stop 198 aggressive, conservative 201.20 part 219 profit balance 230. Stay long.