ITC has created a wedge formation, wait for the price to get above 208 and with this move price has potential to gain 20% over next one month.
200 EMA and upper line of the wedge structure.
192 and wedge bottom line
T1 : 223
T2 : 252
ITC good dividend stock around 5%
Weekly/Daily demand zone 159.8-148
1. 2 exciting candles in execution candles(daily)
2. Weekly/ daily coinciding
3.origin of move
4. value pick
1. slow moving stock
2. hospitality business of ITC was hit in ITC during covid
ITC Weekly/Daily/ 4 hr supply 220.8-233.6
cmp:206.35 11 Aug 2020
ITC even though its not constantly uptrend, once it reaches the level we can take Limit entry
1.2 legout in daily candle
2. weekly/daily coinciding supply zones
3.ITc is not constantly trending up, its like zic-zac up, so chances are that if it reaches the supply, it may react till next...
ITC has taken good support and rallied... buy buy buy...
if you are not willing to buy in futures take options =>buy 215 CE sell 225 CE ...
expectation is it will reach 225 so by that time expiry comes in and you can eat premium of 3200
maximum loss is 5500 if it starts falling down to 195 then sell one more 225 CE you will loose around 2k-3k which is nothing