Looks like ITC has done well so if one has to enter in this stock 400 or 355 will be a good place, so I think it has to correct more lets see what happens
Target 1: 400
Target 2: 355
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moving towards 400
Trade closed: target reached
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reaches first support
Trade active
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if break 400 next 355
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400 seems like a good support if this is respected we can 449 next on the higher side, i.e 12% from here
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38 more to 449!
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tested 400 second time, hope will bounce back from here, lets see
Your conviction is amazing. ITC Ltd i am holding from 229. Could not book profits at 500. Never gave 5% upmove. After your msg is down 5%> honestly never seen such accuracy. One thing i wanted to ask is since 2 days Tata steel is getting down move from resistance. Will consider this as a halt in upmove? How will you calculate now.? Your Fibonacci levels calculations has drawn a line on 147.15 . And exactly from that levels it reversed. Regards Brijesh
udhaya0000
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@bp3vedi, looks like it is coming into the channel, also nifty fails to break 22125 (strong resistance), chances are more to test the channel bottom, lets see (sometimes 0.618 will act as a strong resistance)
bp3vedi
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@udhayakumars, this a weekly chart. Tomorrow 1 more day left to close the week. Previous week on Friday Tata steel was up with high volumes and made the weekly high on close. I feel the way it is moving should break 148 tomorrow at close.
udhaya0000
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@bp3vedi, yes you can wait 140 seems like a good support, lets see
bp3vedi
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@udhayakumars, thank you for your time and help. Regards Brijesh Trivedi
udhaya0000
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@bp3vedi, looks like nifty will face a big fall from here so I think I need to rethink about Tata Steel target, lets see
bp3vedi
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@udhayakumars, ok. Let's hope for the best. Tomorrow weekend trade will be important
udhaya0000
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@bp3vedi, sure, take your decision wisely, this is just my observation, lets see how it works,
udhaya0000
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@bp3vedi, check sail it also got reject at fib level
bp3vedi
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@udhayakumars, yes, I saw your views on SAIL as well. At50yrs of my age, I am planning to exit most of my trades after your analysis on nifty. No more stress on equity investment. I already shifted my equity mutual fund earlier to conservatively folio of debt instruments. Will wait till year end to shift to NPS when nifty hits bottom. Your insights are of huge help to me. Thank you for sharing your ideas. Regards brijesh Trivedi