ITC - 2 year range breakoutITC - 2 year range breakout
Target - 280 / 310
SL - 245 (Weekly closing basis)
ITC trade ideas
is ITC gonna prove everyone wrong this time ?In recent years, $ITC.NSE has been talk of the town but on insta memes for its underperfomance. But recent rally seems to have some surprise for traders as it has crossed and closed at 267.80 which is 3 years high. Technically, momentum is strong with volumes and also it is running up towards the channel resistance of 282 above which a new DREAM rally would be initiated. But on downside support is at 200 WEEKLY average at 235 which can act as Stop loss for investors and fresh traders.
Itc shorting opportunityShort itc old supply zones approached
Almost 1:3 trade . Only for future traders
#ITC #Priceaction ITC 1W: Given EMA conversion breakout at 225 (Volume supported). ADX> 25, RSI = 60. Much awaited BO above 249 & 257 is in place. SL 2340 to approach a price around 300. NO GHAR VAPSI (208-215 band) this time.. Once weekly close too does above 257 there shouldn't be any hurdle till price target. Now keep eyes on rising channel.Keep watching.
Failing third DriveThis is my trading journal, not a trade recommendation.
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Trading in the stocks market or futures markets is on e of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.
This is one person’s experience, your experience may differ. Past performance is not guarantee of future gains.
CUP & HANDLE FORMATIONIts a formation of Cup&handle take a confirmation when the handle is formed .put a SL 1% & PF for 3 % .
If the handle is not formed.then it will be a double top.we can sort.
ITC WILL RESIST TOMMOROW AT ABOVE 3RANGES Price is very much close to is major resistance ie 257 261 and 265 bears will be active along this ranges
Getting Convergence around this ranges
ITC WAVE ANALYSISI see a big fall coming in ITC on the basis of the wave theory. Even I am not able to digest the targets which are reflected on the basis of the wave count. Hope my wave count is wrong. This analysis is for fun. enjoy. Please do correct me if my wave count is wrong.
ITC 1W: +Ve view #ITC #Priceaction #Movingaverage ITC 1W: Though price action showing strength still it appears to be 'NEUTRAL' in terms of R:R. Given EMA conversion breakout at 225 (Volume supported). Formed triangle within triangle. ADX> 25, RSI = 60. Much awaited above 249 & 257. SL 223 to approach a price around 300. NO GHAR VAPSI (208-215 band) this time.. Keep watching.
ITC--BUY ON DIP TO 228-220after completing 1st up move nifty to correct to 228 (1st support)or 50% retracement 224 or 61.8% retracement at 220 for 2nd down corrective wave .Once takes support 3rd wave to take it to 280 level.
ITCFor ITC 239-240 seems to be a major resistance line. If it crosses above and close with good volume, we can expect it to make another Rs10 - 20 on the upside
ITC--BUY ON DIP to 224 levelITC has completed 5 wave upmove in 1st wave likely to find support at 224-25 or fibo retracement as marked in chart accumulate at lower level as 3 wave down move in progress.
ITC - A MONK, will enlighten the portfolio.TREND Line B/O on Monthly Chart. Mr. Dependable of the WAR Situation. Check.
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.
