elephant is likely to move noweverything is in the chart. in the past it has rallied after the buying exhaustion in nifty. seems this time it might play similar. Still doubt is there as a bearish gartley in weekly view is also forming, but even if in that case c leg has the target of 230. So, a 10 % target with 3% stoploss will be a good strategy from a buyers point of view.
ITC trade ideas
ITC is going to riseNSE:ITC
*Trade Setup*
T1 - 230
T2 - 240
SL - 205
ITC has been trading in a range for a really long time.
200 remains to be a very strong support region and it has taken support over 5 times.
It has formed a triangle pattern so it has the potential to get out of that range and move higher.
Triangle pattern with 3 resistance is a good setup with high probability.
*Trade Confirmations*
- It has been trading in a consolidated range for a long time.
- Descending triangle pattern with 3 resistance is good.
- Volume is higher and it has crossed the average volume.
- Triangles are a really good patterns with high probability.
- Fundamentally good company.
Thank you for patiently viewing my ideas/analysis.
I appreciate it!
Let me know in the comments if you have any doubts or feedbacks
Long ITC for 220,228,2401. Good for investment and will certainly give a good 40% returns in coming few months
2. Traders can look for 220 and 228 but if we get lucky this can become a flying beast in one da
There are lots of jokes about this script but if we really look into the averages of this stock, this stock is readying itself for a wonderful upside and will amaze everyone .
When I say that I am trading it, I am doing so with a closing basis stop loss of 205.