ITC trade ideas
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.
Can We BUY ITC NOW For Short TermNSE:ITC
In Previous Week Candle Has Form A Tail Formation Which Is Good Indication Of Efforts To Stop The Fall Or Of Good Buying.
In Last Week Again We Have Seen Good Efforts To Push Prices Up In Itc.
Which Indicates Itc Is Stronger Than Index As We Haven't Seen Major Down Move In Stock.
We Can Prefer This Stock For Holding Period Of 2-3 Months.
Stop Loss Below 195 Closing Basis
Itc outperformed in weak market, Fundamental and Tech analysisITC Ltd
ITC outperforms in weak market
- Stock gains 7% in last five days
October-December quarter (Q3FY22)
- Strong all-around revenue performance
- Cigarettes staged a recovery with revenues at Rs 6,959 Cr
- Compared with Rs 6,091 Cr a year ago
- Pre-tax profits from the segment stood at Rs 4,187 crore
- Compared with Rs 3,659 Cr in the year-ago period
Cigarettes business Performance
- Stable taxation on cigarettes would result in high growth in cigarette volumes in the medium term.
- Cigarettes business was one of the worst impacted businesses in last two years due to Covid-19 disruptions
- Cigarette business growth in the current quarter reflects that volumes surpassed pre-covid high levels
- Margins of this segment : 14% year-on-year growth in earnings before interest and tax (EBIT)
Paperboard business Performance
- Demand recovery from the user industries
FMCG business
- Growth was at a slower pace of 9.3%
- Still stronger growth compared to most other FMCG peers
End of financial highlights
Tech Analysis
With its peers loosing all the gains of previous year, Itc has been maintaining its support on 215 for quite a few months now, another good support stands at 201 levels. However Itc has always proven itself as a zig zag stock so the next resistance is at 236, which can again bring profit booking in this stock. Look out for these levels and keep a stop loss in ratio of 1:2.
End of Tech Analysis
ITC - long viewThe stock has crested a good base at the level range of 204 levels.
As you can see the stock has taken support around this area and moved upwards.
It reached a high of 265 levels before crumbling to huge selling pressures.
The stock is trying to make its way back to the top.
I have presented my views on the chart with levels that can help you take your trades.
Thanks & Regards,
If you feel you can make use of my views and put them to good use, request you to kindly revert with feedback/suggestion/improvement
My 1st predictionBuy ITC when it reaches 225. It's testing and confirming uptrend continuation. On top of my analysis added fib retracements.
Best Buy Zones for ITC #Bottomfishing Best Buy Zone: 163 - 182
Good Buy Zone: 182 - 205
Add on bounce, not while it is falling.
Long Term Portfolio Stock.
Tracking Quantity can be taken at 211. (Tracking Quantity : Suppose you want to Invest Rs.X in a particular stock. The amount between Rs.X/5 or Rs.X/10 would be tracking quantity) (‘Tracking Quantity’ of a stock in your portfolio will help you keep a track of the stock if it is coming in the indicated buying zones.)(Sometimes Out of sight goes out of mind so buying tracking quantity of stocks that you want to add in future helps.)
Stock that follows Technical Indicator Perfectly ITC#ITC follows the technical indicator Long and Short rules very perfectly.
Atleast from the last Covid season there is good signal of long and short coming in very systematic way.
Every Blue Candle from its past Black Candle i am gonna SIP the stock to make wealth
What do you think ?
#NSE
#BSE
#SENSEX
#STOCK
ITC ANALYSISSymmetric Triangle Pattern
CMP: 221.90
Entry either on upside or downside break of the triangle
Upside Target: 231-232
Downside Targets: 218-219, 212-213
ITC Again Will Come 200ITC all time favorite stock this time gain will come down very important support 200 and reverce
ITC-BUYbuy with a stop of 225 ,once crosses 235 will show real power for a target of minimum 245 fb extension shows a target of 280 if it does not break yesterday low.
itc--buy near to 227-28first wave complete into second wave probably heading toward 227-28 level fibo retracement level i.e 2 nd down wave . buy near to 227-29 level where 3rd wave to began for a target above 245. 260,280 level
Bullish on ITCITC is forming symmetrical triangles on both Daily & Weekly Chart.
On weekly chart, it has crossed 200 EMA, which shows a breakout.
#ITC #EMA200ITC 1M: Technical input. Expect once (in Oct 2020 - only for 4 working sessions) it is not traded below 200 EMA... It indicates what limited risk ITC offers. Keep eyes #MK
ITC--BUY ON DIPitc meet our initial target of 232.50 now buy near to 226-227.50 level for a target of 238
ITC-TARGETintial target of 232.50 meet now again on support near to 226-27 level will take it to 238 level
ITC--NEAR TO RESISTANCEIT IS TRADING near to its resistance zone let us see if it breaks the same for a target of 230 or profit taking drags it down
ITC BUY
ITC
Buy Entry @ 218
Target @ 260
Stop Loss @ 208
Risk Reward 1:4
Note: Please leave comments for any query.
Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.
Best of luck..
Shakthi
