Keep and eye for 25% returnHi All,
Please refer chart for detailed explanation on technical analysis .
Falling wedge is one the most accurate pattern. One can buy around support zone.
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ITC trade ideas
is ITC gonna prove everyone wrong this time ?In recent years, $ITC.NSE has been talk of the town but on insta memes for its underperfomance. But recent rally seems to have some surprise for traders as it has crossed and closed at 267.80 which is 3 years high. Technically, momentum is strong with volumes and also it is running up towards the channel resistance of 282 above which a new DREAM rally would be initiated. But on downside support is at 200 WEEKLY average at 235 which can act as Stop loss for investors and fresh traders.
#ITC #Priceaction ITC 1W: Given EMA conversion breakout at 225 (Volume supported). ADX> 25, RSI = 60. Much awaited BO above 249 & 257 is in place. SL 2340 to approach a price around 300. NO GHAR VAPSI (208-215 band) this time.. Once weekly close too does above 257 there shouldn't be any hurdle till price target. Now keep eyes on rising channel.Keep watching.
Failing third DriveThis is my trading journal, not a trade recommendation.
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ITC 1W: +Ve view #ITC #Priceaction #Movingaverage ITC 1W: Though price action showing strength still it appears to be 'NEUTRAL' in terms of R:R. Given EMA conversion breakout at 225 (Volume supported). Formed triangle within triangle. ADX> 25, RSI = 60. Much awaited above 249 & 257. SL 223 to approach a price around 300. NO GHAR VAPSI (208-215 band) this time.. Keep watching.
ITCThe stock holds in such a weak market, swiftly moving inside the channel, we can test 240 levels, which is the top edge of the channel. Resistance comes at 225 the 100 SMA to 228 zone, and then 240 itself. Super trend has changed to buy with other indicators looking well positioned as well. Above 228 we can get positive momentum. Support comes at 220 the 200 SMA and 211.