ITC Limited – Trendline Breakout Setup
ITC has been trading under a long-term descending trendline, facing multiple rejections since early 2025. Recently, the price formed a strong support zone around ₹395, followed by a potential breakout attempt from the trendline.
Key Observations:
Multiple rejections confirm the validity of the descending trendline.
A fakeout occurred earlier, but this time price is showing strength near support.
If the breakout sustains above ₹415–₹420 zone, we may see a move toward ₹450–₹465.
Support to watch: ₹395
Trade Plan (Bullish):
Entry: Current Market Price
Stop Loss: Below ₹395
Target 1: ₹445
Target 2: ₹465
Target 3: ₹480
ITC has been trading under a long-term descending trendline, facing multiple rejections since early 2025. Recently, the price formed a strong support zone around ₹395, followed by a potential breakout attempt from the trendline.
Key Observations:
Multiple rejections confirm the validity of the descending trendline.
A fakeout occurred earlier, but this time price is showing strength near support.
If the breakout sustains above ₹415–₹420 zone, we may see a move toward ₹450–₹465.
Support to watch: ₹395
Trade Plan (Bullish):
Entry: Current Market Price
Stop Loss: Below ₹395
Target 1: ₹445
Target 2: ₹465
Target 3: ₹480
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.