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 trade ideas
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.
ITC ascending triangle breakout, closed above 202 Target 210,220 ITC ascending triangle breakout, closed above 202 Target 210,215,220 SL 192
ITC Weekly/Daily/ 4 hr supply 220.8-233.6ITC Weekly/Daily/ 4 hr supply 220.8-233.6
cmp:206.35 11 Aug 2020
ITC even though its not constantly uptrend, once it reaches the level we can take Limit entry
PRo:
1.2 legout in daily candle
2. weekly/daily coinciding supply zones
3.ITc is not constantly trending up, its like zic-zac up, so chances are that if it reaches the supply, it may react till next opposite weekly demand
con:
Left to execution in either DAily or 240 min...there were kind og range, so panding orders might filled
ITC took Strong SupportITC has taken good support and rallied... buy buy buy...
if you are not willing to buy in futures take options =>buy 215 CE sell 225 CE ...
expectation is it will reach 225 so by that time expiry comes in and you can eat premium of 3200
maximum loss is 5500 if it starts falling down to 195 then sell one more 225 CE you will loose around 2k-3k which is nothing
I bought 215 ce at 2.65 and sold 225 ce at 2.65 already at 700 profit...
I think ITC is a good dividend yield company and holding it will give you 5 to 7% profit i dividend yield itself and if it rallies that is extra... so buy in stocks if you have money
ITC - Breaking Out - Is it Big EnoughITC - The most talked about stock, finally breaking out. Wether it will continue, time will tell. For now 210 looks a possibility. See the Volatility Contraction pattern.!
