ITC trade ideas
ITC getting ready to Flyyyyyyyyyyyyyyyyyyy????????????????ITC: seems like it is completing cycle of Elliott wave of smaller degree and getting ready for new cycle! Let's see.
Swing Trading Idea | ITC Ltd.I am a new member here , the idea was originally posted on my channel on 25.5.2021.
ITC Looking Bullish
Safe Players :-
Sell 200 pe June @ Rs. 3
Risky Players :-
Long 1 Lot ITC June @ Rs. 210.50
Sell 1 lot CE 230 June @ Rs. 3
Tgts - 216-226-239 ( Spot)
SL Below 205
Note : June Future at Discount Due to Dividend Announcement Due on 1st June
ITC LTD 1D TF~~Personal views on ITC LTD~~
Long on ITC for short to medium term. Price is taking support at the new trend line (Black Trend Line) and has given breakout on the previous descending trend line. I have used simple trend line analysis on daily time frame along with RSI and MACD indicators. RSI and MACD showing good strength with good volume. RSI going up with the price action following the trend line. Price is well above all moving averages and showing good strength. 20D SMA crossing 50D SMA on daily time frame. Refer to the Fibonacci levels for immediate target and support. ITC releasing Q4 results tomorrow, hopefully with good dividend which will push the stock further up. Today’s volume was also more than previous weeks average volume.
~~Do your own analysis before investing~~
~~Feel free to share your views and learning’s~~
A TRIANGLE PATTERN SUGGESTING A BREAKOUT SOONWE CAN SEE A TRAINGLE PATTERN BEING FORMED SO BE READY TO TRADE
Neutral i suggest wait for price to come down to 190-191 for long ,
here its getting weaker ,
190 will be strong 1d trend support , from there it can be long for 240 and higher.
upper trend line showing weakness.
ITC : finally on for 240++ targets?cmp 212.90
after long consolidation in price band 200 to 210 stock has come out of triangle compression zone .
one of the slowest moving stock . this time it can give 10% to 15% returns in short time frame .
finally it has given breakout.buy for...
targets
216/220.20/224.40
230.70/236/241+++ (note : monthly pick)
ITC TRADING IN RANGE ITC TRADING IN BIG RANGE OF 200 AND 235...
NO BIG MOVE ON EITHER SIDE EXPECTED UNTILL THIS RANGE BREAKS...
AS PER CHARTS ITC TRADING IN MONTHLY TIMEFRAME CORRECTION...
Long ITC once breaks channelConsider details provided in chart..
Views are personal and are only for educational purposes..
ITC - BEARS BLINK, BULLS STAREITC, is waking giant. Within the larger moves there exists short term opportunities too. For the day buy with stops as mentioned for move towards 216. Stay Long. For positional buyers 206 is the new base.
ITC Short Term viewITC is forming a W-Pattern on daily chart
BUY above 217
Target : 224
Holding period : 1 to 3 weeks
Retail Traders may had throw Out ITC (Mind Voice)NSE:ITC
ITC weekly chart is very interesting and showing strong support at 195-190 .
on last weeks (17th may 2021) bearish candle its seems like frustrated retail traders just throw away ITC and same be have been picked up by Smart Investors.
Its just a Mind Voice.!!!!!!
Thank!!!
|| Hari Om ||
Can ITC do it this time ? xDwell this stock had a bizarre pattern some time ago and now we can finally see a better picture, making a descending triangle: the breakout of it can give good breakouts to this stock finally :)
Happy trading :)
ITC to next level After breaking 38.3% , will be heading to test 61.2 level. Short term buying opportunity with a target @ 242.00
