ITC is currently forming a falling wedge pattern once it breaks out it provides a fresh buying opurtunity
The above chart NSE:ITC can either breakout or break down in the future with the future trends. time frame = 1D disclaimer: education purposes only
ITC is making a descending triangle pattern on a 1 hr chart. Good for Intraday and Short term. Look chart for further information. I have also marked the supply zone so BE careful in intraday.
Now forming itc descending triangle pattern.
ITC is consolidating between a triangle pattern. If it breaks above from the triangle, 236-237 will be the target we can consider, if it breaks below, 200-196 levels are ready. This is just for education purpose and self learning so please DYOR before making any trade decision.
ITC given triangle breakout on daily time frame
The stock seems to be having jitters of being too pricey. There has been formation of inside bar on daily and the stock is too far from moving averages thus a resistance on 20 EMA and thus a fall downward to the red line being 200 EMA would be easily achievable in coming time within 2 weeks.
It has formed an inside bar on weekly a possible scare in the market but we can expect this target be easily made .
ITC is on good Support if it will be closing above 211 then will give good move in upside
POS. ADD ITC AT 213/200 UP SIDE WE SEEN 233-255-277+ IF CLOST OR SUTAIN ABOVE 240 SKY IS THE LIMIT
www.tradingview.com CMP : 213 TO 215 SL ON CB : 202.25 TARGET : 236, 252