ITC--Trendline Resistance??This particular stock has been on a prolonged bearish trend, but currently, the price is finding support within well-established historical support zones.
Looking ahead, there's a notable trendline resistance on the upper side. If the price manages to breach this trendline and subsequently provides a retest, it may present a favorable opportunity to consider long positions.
Itctradesetup
ITC Breakout or Breakdown Risk Reward 1 to 3 Trades
In this approach, Once Breakout or Breakdown levels are breached, we initiate Long or Short positions accordingly with Proper stop loss as mentioned in the chart. Since the Risk Reward is 1:3, we can take a maximum of 3 trades.
If we follow this approach, over the long run, money is gained.
A trader is advised not to treat these setups as lottery tickets. Since only I know why these work (while others may not), only I have the conviction to trade them in real market. So kindly treat them as educational trades only.
Happy Trading!
ITC--Uptrend Resumes or end ??ITC stock observations:
---->trending upwards, broken a strong resistance at 390 (zone previous strong resistance)).
------>after clear trending upwards now price is showing some sort of consolidation, from this level the trend resumes again or reversal may happen.
watch this stock for short position.
As of now ITC trending, upwards can we expect a reversal from here or continue move towards up, we need to wait for further price action to short.