ITC showing weakness against nifty index. Sell near 183 with a stop loss of 185.2 for a target zone of 172/165
ITC trade ideas
ITC range, Demand and Supply rangeITC is consolidating at current level, any downside break from current level will see fresh demand at 165 to 161 and if break free from 190 level then fresh supply at 200 (100 EMA ) and 220 level (200 EMA)
ITC Interesting Buildup "ABCD" + "PITCHFORK"NSE:ITC ITC is in a safe sector but market conditions can bring the prices down. ITC can be good short candidate below 175, see the chart for further levels and updates.
ITC iNTRADAYSuperb set up...Trendline acting as resistance at 38.2% retracement and bouncing back...hope to see 161.8% levels
Rise of the Fallen FMCG & TobaccoDouble Bottom Pattern in ITC was seen to formed in Weekly Charts, also a teeny tiny divergence is visible in RSI.
ITC SHORTMY analysis of ITC
INSTRUMENT: ITC
: Futures and options
TIMEFRAME: DAY
VIEW TYPE: TECHNICAL
PSAR: BEARISH
STOCHASTICS: BEARISH
TREND: BEARISH
CMP: 186.35
SELL BELOW: 180.50
SL: 193
TARGET 01: 167
TARGET 02: 160
Technical analysis of FOREX and INDIAN MARKETS. We are not SEBI REGISTERED ANALYSTS The views expressed here are for our record purposes only. Please consult your personal financial advisor before investing. We are in no way responsible for your profits/losses what so ever.
we can go short once we get the confirmationGreat Resistance once price touch this zone and show reversal and we will wait for the confirmation on 2nd day and on 3rd day we will go short .
May be if long candle crosses this zone and we get confirmation on 2nd day and we will wait for 3rd day to go long , but due to corona pandemic i think it will be going down.
ITC analysis for 16th April 2020Go long on break out of highlighted blue zone for safe traders...Others can wait for price to bounce upto 186.7 levels for strong support to bounce back to target..
Eliote wave Flat correction for ITCLooks like ITS completed its Flat correction. we can enter for shorting once the trend breaks.
ITC TREND BASED SELL OPPORTUNITYITC STOCK HAS BEEN ON STRONG BEARISH TREND SINCE MAY-2019. ITC STOCK IS TRADING AROUND INR 190 LEVEL, WHICH HAS BEEN SIGNIFICANT SUPPORT ON DAILY CHART IN THE PAST. AS PER SUPPORT AND RESISTANCE BASED TRADING SYSTEM PREVIOUS SUPPORT AND RESISTANCE ACTS AS OPPOSITE WHEN GETS BROKE. SINCE ITC STOCK HAS BROKE SUPPORT OF INR 190 IN RECENT PAST, THAT LEVEL CAN ACT AS RESISTANCE FOR STOCK.
WE CAN SEE THAT ITC STOCK CHART HAS REJECTED TO BROKE THAT UPPER LEVEL OF RESISTANCE AND FORMED PIN BAR ON H-1 CHART. WHICH IS SIGN OF REVERSAL ON SHORT TERM TREND. TRADERS CAN LOOK TO SHORT THE STOCK IF CURRENT CANDLE CLOSES BELOW THE LOW OF PREVIOUS PIN BAR CANDLE.
SELL ENTRY: INR 189.50 (IF CURRENT CANDLE CLOSES BELOW LOW OF PREVIOUS PIN BAR CANDLE)
STOP LOSS: INR 196.55 (1 ATR ABOVE HIGH OF PIN BAR CANDLE)
TARGET-1: INR 179 (RE-TEST OF LOWER RANGE OF PREVIOUS SUPPORT)
TARGET-2: INR 140 (RE-TEST OF 25-MARCH-2020 LOWER PRICES)
ALTERNATIVELY TRADERS CAN ENTER SELL ACCORDING TO THEIR DEFINED RULE FOR ENTRIES LIKE DOUBLE TOP AROUND SAME RESISTANCE ZONE, OR 3 BAR REVERSAL OR ANY RULE BASED ON THEIR TRADING PLAN.
ITC - Preparing for the third waveAfter completing the impulsive structure of 1-2-3-4-5 , the Stock has given a significant fall unto 61.8% from its all time high in A-B-C corrective move fashion. As per the current scenario the stock is ready for the next higher degree wave 3 which can be the strongest & largest of the previous 1st impulsive wave.
Investment strategy:
Buy the stock in the range of 130-180 keeping Stop loss below 100 for the target range of 275/375/575.
