ITC trade ideas
channel may formstock is above 200 MA and making a channel . price seems aggressive bullish as making wide bull spread after poor selling (while market correction) volumes are coming in, sl- last swing low.
ITC - Woes may continueITC - formed a dark cloud cover on weekly and last week the sell-off ahead of budget blues. 192 is its long term support line. A weekly closing below can take it to a long term slumber zone between 165-192-200.
DISCL: Not a SEBI Registered. I post charts for my own study.
LONGLong at CMP with SL 199 for target of 222-227. stock is in wave 5 of minor degree which is looking an Ending Diagonal Triangle if it does not break level of 200. Further if it sustains the level 200 and gives upward move, the Stock can move to 240+ in that case SL will be 180.
Trend reversal in 2 hours time for those who trade in daily TimeSimilar W bigger pattern you can see them in the same chart.
ITC - Trend ReversalITC formed a beautiful bullish pin bar from golden Fib level 0.618 + resistance zone.
If it manages to cross Fib level 0.382, possible target of 225.
ITC ITC can touch the level of 240 soon. The analysis is supported by deliverable quantity and also volumes.
Bearish Butterfly- ITC - Daily TF.Hello,
Pattern : Bearish Butterfly
Stock : NSE:ITC BSE:ITC
Time Frame : Daily.
Always look for reversal patterns in rectangle box area which is a reversal zone and take trade basis on it.
Note : This chart is only for study and reference purpose.
ITC - Bullish SetupITC is expected to give good targets from here.
Flag and pole Channel Breakout with good volumes.
Double bottom formation indicates super bullishness in stock.
ITC - Breakout; Close above 219 will open T1 - 237 ; T2 - 265 ITC - Breakout; Close above 219 will open T1 - 237 ; T2 - 265
ITC PreparedITC all time favourites of retailers. In weekly chart another break out scenario and heavy volume in last candle and RSI above 60. I'm already bullish on ITC when it's breaked 195 level.
ITC Chart Analysis for Long TermSeeing Price action on daily basis ITC looking bullish to me. It has broken uppertrend line which was acting as a resistance shown in red colour and is taking support from another trend line shown in green colour which is acting as support. 195-200 was a resistance which was broken and retested, now this area gonna act as support shown in green zone . The price may shoot up to 240 or near that red zone , which gonna act as resistance .
ITC Break Upside here we have a double top pattern this is good sign of upside if break 218 expect 235+
