ITC as forecasted in my previous cup breakout analysis is in a historical price value area between 194 and 203.
Depending on how the results are vis-a-vis expectations of the market movers (MF, banks, investors); the breakout may happen in either direction or a side-ways movement.
For breakout up; wait for a close above 206
Fore breakout below; wait for a close below 190.
The value area is open for scalping.
Depending on how the results are vis-a-vis expectations of the market movers (MF, banks, investors); the breakout may happen in either direction or a side-ways movement.
For breakout up; wait for a close above 206
Fore breakout below; wait for a close below 190.
The value area is open for scalping.
Comment:
Notice how the stock's daily movement (in the previous range bound movement days) moves towards Support gradually for downward break and towards the resistance for upward breakout.
Scalping trade active