Decending triangle pattern The chart pattern indicates that making price from high to lower highs at resistance levels and making equal lows at support so that chart indicates that price shortly will fall. Target-174 and stop loss -214. this is educational analysis and is not for any buy or sell call
ITC trade ideas
ITC breakout finally?ITC has given a weekly closing above its supply zone of 260-265 after 3 years also breaking its previous 52 week high with very heavy volumes.
From the chart, it is clearly visible it is an inverted head and shoulder pattern and stock has given closing above its neckline.
Let's see whether it sustains the breakout and bring happy faces on many investors' face;)
RSI BEARISH DIVERGENCE ON WEEKLY & DAILY CHART. Hello to everyone,
As we can see there is a bearish divergence in RSI & PRICE on weekly & daily timeframe. This is indicating that price has not much momentum to go upside. We can expect a trend reversal in stock price but only RSI divergence does not confirms the trend reversal. If any bearish candle or bearish pattern forms than only we can go for the short position.
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Attaching previous idea of ITC
BUY ITC FOR TARGET OF 360The stock has risen above the falling channel on the daily and weekly chart, suggesting increasing bullishness. Besides, the stock price has moved above the 50 day exponential moving average on the daily timeframe. The MACD indicator also suggesting bullish crossover in ITC .. Stock kam se kam previous high pe to jana chahie jo ki 360 ka hai,,lower side bat kre to 325-330 pe acha support hai,,to buy kro and paisa kamao, vaise bta du ye stock long term k lie bhi best hai...to jaisa chaho vaisa kr skte ho,
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A perfect L.cap to invest in this recession ***IT IS A LONGTERM IDEA**
Follow the FIVE rules below.
1)Book whole profit at TP if you want to free up capital.
2)Stick to strict stoploss,exit when hit.
3)Use supertrend indicator or monthly MA(Length is based on your appetite) and sell
Whole quantity when hit.
4)Wait as long as it hits TP.
5) Don't keep your capital allocation not more than 10% of available cash.
**CHART IS SELF EXPLANATORY**
ITC:- LONG OPPORTUNITY ITC currently trading near the major structural support zone.
Some bullish engulfing Candle spotted near the support zone.
Which indicates the continuation of the uptrend.
And market is expected to remain bullish for few upcoming sessions.
Market may test the target levels of 346 and 360 per share.
ITC viewITC is revered from a very important support zone and currently making a Doji candle formation at the above trend line.
It will be a good move either way whenever it breaks. So, watch out for this stock.
Trade safe. Manage risk. Be profitable.
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Disclaimer:- This is my view. Please analyze the charts yourself and then decide to take any trades.