ITC trade ideas
ITC BullishThe Support and Resistance is shown on the chart.
The price action is showing bullish signs.
The trend can be seen on the chart.
The RSI is 58.28
The Earning release is on 19th October.
Disclaimer: This chart and it's analysis is for educational purpose omly. Trade according to your own analysis.
IMPORTANT LEVELS FOR THE MONTHNSE:ITC BSE:ITC
All these levels are for upside move, until price is holding these levels try to look for long position on every level.
I am expecting a upside momentum.
These levels are so simple so don't get confused .
If you are looking for the short entry then enter near or at the level or if you are planning long then also plan it near or at the level. It will help to minimise stoploss.
My view is long and buying on dip is a ideal strategy until it falls below the levels.
I will try to update these levels if it is required.
All the best folks.
ITC making W pattern ready for 500 + again On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
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Trading Idea: Long-term Investment in ITC Limited (NSE: ITC)Overview:
ITC Limited, a prominent Indian conglomerate, operates across diverse sectors, including FMCG, hotels, agri-business, and cigarettes. This trading idea suggests considering a long-term investment in ITC based on a combination of fundamental and technical analysis.
Fundamental Analysis:
Revenue Diversification: ITC has made significant strides in diversifying its revenue streams beyond its traditional tobacco business. The FMCG (Fast-Moving Consumer Goods) segment, particularly brands like "Aashirvaad" and "Classmate," has shown promise.
Earnings Growth: Analyze ITC's historical earnings growth and projections for the future. Check for consistency in revenue and profit growth over the years.
Dividend Yield: Consider ITC's dividend history and dividend yield. The company has a track record of paying dividends to shareholders.
Valuation: Evaluate ITC's current valuation metrics, such as the Price-to-Earnings (P/E) ratio, in comparison to peers in the industry.
Market Position: Assess ITC's competitive position in its various business segments and its market share.
Technical Analysis (Up to 2023):
Trend Analysis: Review ITC's historical stock price trends. Look for patterns or trends that suggest a potential reversal or continuation. Use technical indicators like Moving Averages, Relative Strength Index (RSI), and MACD to gauge the stock's momentum.
Support and Resistance Levels: Identify key support and resistance levels on the stock chart. These levels can provide insights into potential entry and exit points.
Candlestick Patterns: Pay attention to candlestick patterns to spot potential reversals or trend continuations.
Volume Analysis: Analyze trading volumes alongside price movements. Unusual volume spikes can indicate significant market interest or potential trend changes.
2023 Outlook:
Given the diverse nature of ITC's business segments, its performance may be influenced by various factors, including economic conditions, consumer preferences, and regulatory changes. Monitor updates related to its FMCG business, hotel segment, and any developments in its traditional tobacco business.
Risks:
Regulatory changes in the tobacco industry can impact ITC's revenue and profitability.
Competitive pressures in the FMCG sector.
Economic factors, including inflation and consumer sentiment.
Conclusion:
Investing in ITC Limited (NSE: ITC, BSE: ITC) should be based on thorough research, a long-term perspective, and a well-defined investment strategy. Monitor both fundamental and technical factors, and consider your risk tolerance before making any investment decisions.
ITC--Trendline Resistance??This particular stock has been on a prolonged bearish trend, but currently, the price is finding support within well-established historical support zones.
Looking ahead, there's a notable trendline resistance on the upper side. If the price manages to breach this trendline and subsequently provides a retest, it may present a favorable opportunity to consider long positions.