ITC trade ideas
ITC in Corrective Wave of elliott wave ITC may retrace till the Point C on the chart, then it may bounce from it. once it breaks top trend line there is the signal to buy ITC.
It seems following Elliott Wave pattern lets Observe it
ITC looks rangebound but it fares suffocated ?It has been a rangebound movement today. And we all know what happens in range ----***TOP SECRET***
So get ready for the move on either side but prepare to buy if the stock breaks price action and can take profit at the red line
ITC Jan 10-15 Target 232ITC has been underperforming in 2020 with all its peers shining so a bet on the ITC. With FMCG at an all-time high, this cant is at this price(I am not an expert fundamental analyst but it's just a feeling). Let's move into the technicals.
A very beautiful Cup or rounding bottom chart brings the ITC target to 232 in January and the monthly candles are creating a very nice double bottom pattern and a W recovery.
Close below 207 I will exit my trade for Jan 210 CE
I purchased it at 9.15 for a chart target of 232
THIS YEAR BULL LIKE ITC ON THIS LEVEL THIS YEAR BULL LIKE ITC
ON THIS LEVEL FOR TRAGET 240/ 280 / 340 / 430...
ITC HI,
I m looking to buy ITC above 218.50, on a closing basis, with a final sl 198 for the first target of 261.
Breakout for a little or average move can be expected I can see a trendline and stock trade narrows down , trading on SM 20 and a good volume built in this level.
#note this is for my learning to evaluate myself, maybe keep this in your radar, I am doing Paper trade only
ITC210CE and ITC215CE
ITC - A CRYING BUYITC has been in the eye of storm by the investors for its inability to break the 200. Now that it broke, met the resistance and then fell near the 200, we complete action and reaction. The current phase is resolution. Ideally this calls for double the size of the positon, place the stop 198 aggressive, conservative 201.20 part 219 profit balance 230. Stay long.
Sideways movement expected The current price is at a strong resistance zone, and considering the Option OI & PCR, stock is most likely to be in consolidation phase. Since it will be range bound, one can take a call accordingly. I would prefer to enter in a short straddle for Jan 2021 expiry.
ITC Forecasting for Positional Trade ; Duration-7 to 20 DaysITC Forecasting for Positional Trade (Trade Duration-7 Days to 20 Days )
(Daily time frame chart used)
If you want to make good returns with less risk then you can enter around 186-190 with stoploss 180 for the Target of 200/208/238
why you should ?
1.Positive RSI divergence (you can refer my previous post of ITC )
2.Change in polarity with Good Volume
3.Trend Reversal .
4.Risk Reward Ratio is Good.
5.RSI- 68 ( Bullish )
6. MACD Bullish crossover
Disclaimer: I am not SEBI Registered ,This is just my own view.
ITC longOn current market scenario where market seems too much expansive one should look safe investment and when we think about good fundamental script ITC is name where we can play long- mid term bet . Stock seems technically good at CMP 214 . One can expect 24 % in mid time frame .
* Double bottom out indication is clear .
* Trading above 50 , 100 & 200 day moving average.
* Stock has given a breakout to a Cup pattern on day chart .
Fundamental0-
* Company is almost debt free.
* Stock is providing a good dividend yield of 4.74%.
* Company has been maintaining a healthy dividend payout of 64.42%
Clean Long ITCFirst Bullish Cypher harmonic pattern
Buy at 167.50 cash with less quantity
Second Bullish Shark harmonic pattern
Buy at 162.50 cash, futures or options
PRZ 160-162.50
view invalid below 155
stop loss 155
first target 175
second target 184
final target 192
ITC-Pull back is comingWith a current scenario, better to wait for a pull back then long sure shot. Around 200-205 will be a good entry.
ITC - Intraday / Swing Trade SetupITC CMP - 216.30
Looking bullish in higher time frame. One can go for Intraday / Swing Trade setup with the following entry, exit & targets
Buy At at Above 218 / Stop Loss 213
Target 1 - 220
Target 2 - 222
Target 3 - 224
Swing Target - 235 / Stop Loss 202
Disclaimer: This is my view and for educational purpose only.
ITC is ready to Take Off!NSE:ITC
Bullish view on ITC as it has given a breakout to a Cup pattern.
Target- 250
Stop Loss- 200
