I would like to give an update with the NIFTY trading strategy for the short term having US elections results to be declared on November 3rd (The election results are expected to delay by 1-2 weeks due to coronavirus and postal ballot, so we can expect a lot of volatility combined with new coronavirus waves in the western countries).
As you may see...
Here is my educational view on the ITC strategy for both Option traders and investors.
Firstly, the Technical view pattern:
1. As you can see in the chart, we can notice that it has formed reverse Cup and Handle, the cup has been formed and the handle is being formed now. A reverse cup and handle is a bearish mode and it may see further downfall...
First Bullish Cypher harmonic pattern
Buy at 167.50 cash with less quantity
Second Bullish Shark harmonic pattern
Buy at 162.50 cash, futures or options
view invalid below 155
stop loss 155
first target 175
second target 184
final target 192
#ITC - Stock is in the process of a trend change, keep it on your radar. Move above 173, can see fast move towards 187 -190 levels.
Accumulation zone 163- 170.
SL few ticks below 163
Trade type: Swing, and can covert into positional as well.
**Trade at your own risk