ITC

ITC has probably become the most hated stock in recent times, but chart is telling different story, it appears that the stock is currently in wave 3, and it has possibly completed a long complex correction in wave II of 3rd, and the stock bounced back from the support zone around 200, and finally it has given a fresh breakout of decending triangle or flag pattern with very good intensity of volume, the stock is set to start wave III of 3rd. one can go long at current level or in dips (if any), all the key levels are mentioned in chart with Stop-loss and Targets.

Wave Structure, with channel and key levels

Decending Triangle pattern Breakout

Breakout with Good intensity of Volume, Zoomed View

Weekly MACD Uptick

Daily MACD Uptick

BBC up

Very Good positive Ungali setup

RSI in daily above 60 uptick

Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing

Comment: