[POSITIONAL] ITC Short TradeWeekly:
Bet is that it stays below 208 by Sept expiry
Short 210CE @ 2.85
Long 214.85CE @ 2
ITC trade ideas
ITC Long IdeaITC, Enter 190-192, ITC is consolidating for a while now in the range although it tried to give BO but failed and faced res at 200 MA. so either side BO could give good momentum. I would suggest add small qty at current level and add more at 175-180. Also in case of up move add more qty above 200 MA.
8) @BUY NOW AT - 196 , SL - 193DAILY FINANCIAL WISDOM: True discretionary trading is not based on emotions nor spur of the moment decisions. It's based on experience and insight
ITC (After a failed trade will it give a move now ?)ITC was a failed trade for me the last time i updated the chart. However it still is consolidating in the same zone and is at a point of breach / reversal. The MACD indicator has been compressing for long now any confirmed reversal has to be supported by the breach of the trend line by the MACD line towards the upside. However if the MACD line continues its trend downward we might see ITC breaching its trend line and testing 191.75 levels which it hasn't broken for a while now. A breach of that level should give some decent movement.
The Question still remains will it breach it or will it reverse yet again
The market doesn't look like it is ready to go down so will ITC buck the trend or continue with it ?
ITC consolidating but Bullish for Long TermStock is trading in channel
Most talked about stock is consolidating
Long term Bullish
Target 1 206 levels
Target 2 229 levels
Stop Loss 184 levels Closing basis
ITC ltd. Should go upIdications of up-trend, next resistance at ₹206, if breaks resistance target at ₹215.
buy itc around 189.4 t0 188 stop loss 184buy itc around 189.4 t0 188 stop loss 184
i don"t suggest for sale . as this scrip is operator based & signal are pretending to short ,but still I will to accumulate at target level rather going short and wait for price to come down .
Watch out for ITC over next one month ITC has created a wedge formation, wait for the price to get above 208 and with this move price has potential to gain 20% over next one month.
Resistance :
200 EMA and upper line of the wedge structure.
Support :
192 and wedge bottom line
Targets :
T1 : 223
T2 : 252
Entry: 208
ITC Weekly/Daily demand zone 159.8-148ITC good dividend stock around 5%
Weekly/Daily demand zone 159.8-148
PRO:
1. 2 exciting candles in execution candles(daily)
2. Weekly/ daily coinciding
3.origin of move
4. value pick
Con:
1. slow moving stock
2. hospitality business of ITC was hit in ITC during covid
ITC will it Breakdown or will adhere the Trend LineThe stock has been a slow mover and trading in range for many days
The range might be broken tomorrow or not ?
Can be short below the levels but 50 Days EMA will act as support
if positive close tomorrow then again 208 210 levels can be seen !
SHORT ITC IF IT BREAKS THE SUPPORTLOOKS WEAK TARGET WOULD BE 173 WAIT THE CONFIRMATION ONLY THEN TAKE A TRADE AS ITC IS VERY CHOPPY
ITC: 17 AUG 20: EXPECT BEARISH UPTO 191 WITHIN A WEEKITC: 17 AUG 20:
EXPECT BEARISH UPTO 191 WITHIN A WEEK
#ITCMuch anticipation in the week gone by. Showed some strength but the bears took charge again on friday forming a negative candle in weekly time frame. Looks like a short on rise candidate considering weekly, daily and hourly TF.
itc is a good buy from these level buy itc for for target 202 203
support is 196.2 195.75
or extension level 206 209 211
ITC IS ABOUT TO MOVE FORWARDGO LONG ENTRY LEVEL 188 TO 194 STOP LOSS 185.4
TARGET 225
TIME SCALE 10 DAYS
ITC: Expect a good reversal from 210, IT IS THE NEW HIGH ITC:
Expect a good reversal from 210 BECAUSE
IT IS THE NEW HIGH SINCE MARCH.
12-08-20.
