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
hello rk sir/madam.. i am only 27 years old.. but i try to study how to you analyze the chart with macd, rsi, ema, and fb retracement.. try to a trendline like you, your work is absolutely good.. may be i analyze like you in future.. your faithfully.. partha basu 22.9.21
Nice to hear from you, that you are trying to Analyse the charts.
Best learning comes out of practice you do everyday and then u apply it in real market.
Books knowledge will not be usefull, if you don't practice it particularly in stock market because it involves lots of emotions.
Spend atleast one hour per day in identifying chart patterns and preparing your own charts.
Track your charts. Understand how the price moves once the support or resistance is broken. Understand which method gives you better success rate and focus on it more to improve further.
Believe me, Nobody can stop you. 💕
pbasu1097
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@RK_Charts, ok sir, after some time I shall print your valuable feedback and stick at my wall. Because learn more, but forgot many things because of social media. For this cause, I have not used Facebook from last four years.
Try to analyse like you