ITC swing tradeThe channel line shows that it is a uptrend stock
The area between black line is no trade zone
green line is target 1 and 2
Red line is breaking of the uptrend
ITC trade ideas
Go long if open flat or almost flat and cross level Go long if open flat or almost flat and cross level
ITC - CMP 198.2 BullishITC- CMP198.2, Can be taken with SL of 189.2 for a target of 202, 209, 220, 235. It was on continuous rise from 160-170 level and made a flag break out last month and breakout continues with intermittent healthy corrections. Presently going in a raising channel. RSI is also making an attempt to breakout. MACD even though is in positive territory till last trading session it was diverging. Last session MACD was held at same position and divergence halted. It shall go up in future along with other FMCG stocks. This is for educational purpose only.
itc is trending on support line can take support from cmpitc is trending on support line can take support from cmp or breakdown
INVESRSE HEAD AND SHOULD PATTERN #ITCITC HEAD AND SHOULD PATTERN ON RSI DIVERGENCE . BREAKOUT POSSIBLE .
TARGET 1- 200
TARGET 2 - 210
TARGET 3 - 224
ITC Position Trading longITC over all bullish. As per Elliott Wave intermediate 3rd wave going on.
we can expected price to move 234 to 237. it is Strong resistance Zone 1.
also form here minor wave 1.
Buying opportunityBuy IF :
193.55 Is broken on safer side and makes new candle above it then one can look for two targets as :
Target 1 : 199
Target 2 : 207
ITC can give breakout (Weekly)ITC can give breakout but first it has to cross the zone mentioned on chart...
Uptrend started in ITCWatchout for make or break target of 209. If Break 209 then next stop of 234. After that consolidation and then wait for next move after that
Possible rally in ITCAfter a dubious removal of weak hands ITC has started to rally.
Breakout on weekly chart
Buying with heavy Volume
Possible upside level 230.
ITC BULLISH DEEP CRAB - NEXT TARGETS MEANTIONEDPRICE HIT EXACTLY AT HARMONIC POINT AND REVERSED - SNIPER ENTRY
ITC let's C. ITC the Turtle of the market. No matter how strong it's shell is, Big bulls are still not ready to enter.
But why not? Here is math,
Core segment of Indian Tobacco Company i.e. Cigarettes now no more core as it always been easy hunt for government tax department.
Now Cash cow and evergreen emerging sector FMCG is showing good YoY growth but products are not of necessities category and more scattered. Recently it pumped in Chocolate portfolio with 10k crore and 50 products. So it seems it targeting more young customers and not ready to race with HUL or other FMCGs.
Agri. Business is in boost and in way to replace with tobacco sector.but stone in path is stationery and hotel sector. Unless pandemic is over it will remain as special child with regular feed. Which is also having leat ROCE with highest employed capital.
So Institutes will incash only after clear signals of normalisation of economy.but for us it's at good level if crosses resistance shown under below chart.
Why not buy at consolidation phase and catch value instead waiting for news that ' India's Big bull ready to ride ITC.'
ITC let's C.Core segment of Indian Tobacco Company i.e. Cigarettes now no more core as it always been easy hunt for government tax department.
Now Cash cow and evergreen emerging sector FMCG is showing good YoY growth but products are not of necessities category and more scattered. Recently it pumped in Chocolate portfolio with 10k crore and 50 products. So it seems it targeting more young customers and not ready to race with HUL or other FMCGs.
Agri. Business is in boost and in way to replace with tobacco sector.but stone in path is stationery and hotel sector. Unless pandemic is over it will remain as special child with regular feed. Which is also having leat ROCE with highest employed capital.
So Institutes will incash only after clear signals of normalisation of economy.but for us it's at good level if crosses resistance shown under below chart.
Why not buy at consolidation phase and catch value instead waiting for news that ' India's Big bull ready to ride ITC.'
NSE:ITC LongCan reach 205 in 1-2 weeks. After a little retest/Profit booking , ITC will form Green long candles
