ITC
CMP 376 ...
EW Counting of ITC from March 2020
looking at the structure ... wave (3) has been completed and we are heading for wave (4)
which could make price go towards 310 levels ...
it can slide further depending on structure but one can expect 310 from this price to come ..
Just a View!!
Vedang :)
Chart is for study purpose only!!
Price making higher highs with RSI making lower lows. ITC looks to have topped at 290 levels. At the current level of 270, DMI has a bearish crossover, indicating an increasing strength of bears. Next support level at 260
Quick short trade
Sell - 370
Stop Loss - 374
Target - 360
if ITC go Up side my trade plan
Up side trend
Entry point :- 391
Stop lose :- 386
Target 1 :- 396
Target 2 :- 401
If ITC go down side my trade plan
Down side trend
Entry point :- 370
Stop lose :- 374
Target 1 :- 366
Target 2 :- 362
ITC has given a weekly closing above its supply zone of 260-265 after 3 years also breaking its previous 52 week high with very heavy volumes.
From the chart, it is clearly visible it is an inverted head and shoulder pattern and stock has given closing above its neckline.
Let's see whether it sustains the breakout and bring happy faces on many investors' face;)
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Hello to everyone,
As we can see there is a bearish divergence in RSI & PRICE on weekly & daily timeframe. This is indicating that price has not much momentum to go upside. We can expect a trend reversal in stock price but only RSI divergence does not confirms the trend reversal. If any bearish candle or bearish pattern forms than only we can go for the...
Bias: Open
Market Cycle: n/a
Similar to the PA on GJ, my instinct suggests we are going long, even if it's for a short time only.
Notice the wick rejection from the 4h FVG, we certainly now have buyers in the market..
Potential backside trade over 142.900, but be mind-full of the round no KL of 143.00
Bias: Open
Market Cycle: n/a
No real valid market cycle,, a retracement of Tuesdays news is now complete..
I am long biased due to PA and the overnight rejection of the wkly low level, either from the weekly low at 161.23 of a backside trade on 162.07..
ITC ATH 388.20
Above sustain then more chance for upside
Charts for Educational purposes only.
Please follow strict risk reward and stop loss if you follow my level
Thanks,
V Trade Point
#ITC Weekly chart showing BEARISH DIVERGENCE beween it's PRICE & RSI. Upward tredline firstly acting as support for the price & now acting as resistsnce for the price. If price holds itself below the resistance of trendline than peice can come toward downside in coming days.
ITC view for today 6th Feb
Epecting more uptrend if break ATH in ITC ltd for 6th Feb
Please follow strict risk reward and stop loss if u follow the level
Thanks,
V Trade Point
ITC is revered from a very important support zone and currently making a Doji candle formation at the above trend line.
It will be a good move either way whenever it breaks. So, watch out for this stock.
Trade safe. Manage risk. Be profitable.
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