ITC trade ideas
itc 15th june 2020Please do ur own analysis before trade.
This is only for education purpose
itc my tgt
buy above=195 tgt up to 204
sell below 193.35 tgt -185
Clear Down is Vissible upto 179A) 1, 3, 4, Reacts as a sign of Good up movement/ uptrend
( reverse of Rs.179.00 will be a good take off for the
breakout of Rs. 199.00 and the target will be around 220 for shorterm)
B)No. 2, 3a reacts as a continuous downtrend
(if the above fails the price will react at Rs.170 then it will expected
to go down or otherwise it will confirm the next clear trend at around Rs.190.00)
* NOTE- THIS IS MY PERSONAL ANALYSIS AND IT WAS POSTED FOR KNOWLEDGE SHARING BASIS
Clearly this is NOT FOR ANY KIND OF SUGGESTION TO BUY OR SELL.
ITC PULLBACKITC formed a bearish crab and expected to pullback few points down
Target 190
Stoploss 204
ITC intraday projectionPossible start and reversal levels are shown in different colors with support and resistance levels shown
ITC Grinding on upA little dip to 188 would be nice, 236-241 next after we flip 206 .
7 day offering support if only a wafer thin support .
99 day at 188.10 is the lower support , should be an awesome entry . Am looking at buying the breakout for a quick scalp .
ITC (Continuation of Trend or Breakdown)After a constant uptrend ITC has been defying the market trend for the last 4-5 days and has been consolidating while the market has been making new highs.
A triangle formation can be seen, however if the price breaks away to the upside, we can expect the high of 1st of June to act as a crucial resistance area and a breach of the same can take the price to 217 levels. However there are a lot of support zones on the downside. Levels of 194 will have to be watched closely post which the zone of 187-185 looks strong.
A lot will also depend on how the markets opens up, with SGX nifty gearing the nifty up for a strong start watchout for the breakaway levels and then take a trade.
ITC from 6 June 2020ITC is in consolidation zone . .. with high uptrend possibility higher lows forming
for risk takers buy above 203 ...
...
buy only when rsi above 60 in hourly chart with small target if 210 ..
safe traders buy only when red line becomes support for new trend cycle
ITC rally may halt near 220 levelsNSE:ITC which is in a downtrend in monthly timeframe is currently retracing its excess fall.
But this rally may pause near 220 levels.
ITC - in between support and resistance Resistance @ 200 - Price + Fib + Trend line
Support @ 190 - Previous swing resistance turned support.
Probability - Might go sideways in the range , therefore i am waiting for a breakout/breakdown before initiating any trade.
ITC Looking Bullish nothing exciting though..Not too exciting just because i don't see a good profit zone and better looking charts out there.
though on the lower time frame 2hr the confluence of the trilogy of 50/99/200 day has happened to form a golden cross.
Nearing resistance at present i expect it to retest 178 ish area so our order may get stopped out if it does reach there hence the loose stop loss.
Looking bullish for a while , expecting it to pull back to possibly 152ish if it gets rejected from 241 resistance zone .
Flipping 241 zone into support would be really bullish with the long term downtrend line should be broken .
last line of defense 302 for the bears .After which it could make new highs .
It still looks good to meHorizontal supports must sustain as of now, my target would be 218.
I kept it far, a bit deliberately as the pattern looks good.
BUY ITC IF IT SUSTAIN 200 LEVELITC break its importance resistance if it will hold 200 level we can see 250 level soon.
