Short
ITC looks like a little too perfect of an uptrend....
Looking at the 1 month chart it is apparent that this is in a super long term/permanent uptrend, and just saw retracement through 20 month EMA, heading towards 70M possibly (this would be a major correction)...hugely oversold. I think short to 38.2% fib to meet 70M EMA is likely in the event of continued downtrend.
I think correction upwards in the $34-35 is likely in the next month or so, possibly a more substantial correction in a year or so, but ultimate long-term retrace, unless some fundamentals that I am not aware of make a difference.
I think correction upwards in the $34-35 is likely in the next month or so, possibly a more substantial correction in a year or so, but ultimate long-term retrace, unless some fundamentals that I am not aware of make a difference.
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