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akshaybatra020
May 22, 2021 2:13 PM

ITC Expected to go down as making a descending triangle pattern. 

ITC LTDNSE

Description

As ITC making an descending triangle pattern in day candle in 3 months chart. on 9th February it has achieved level of 240 after that started going down and get a reversal with the strong support of 198. After that it again touched trendline on 228 at 23 march and sharply down trend from that resistance again reversed from the support of 198. On may 18 it has tried to break the resistance of 215 and but created a red candle making and made a low of 212 now it is again trying to go toward the support of 198 currently trading around 210. in upcoming days it can test the support level of 198 and break the level and may make a new low from where it will get a new support of 180. this technique may not work if the expected returns of earnings may be released by ITC on june 1.
Comments
newbieintrading
but what if it breaks the trend line, tomorrow... :p i deadly want that to happen..!
gauravmodi3012
@newbieintrading, haha , dont hope in market.hopes never works
newbieintrading
@gauravmodi3012 yeah im aware of that.
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