This stock is now moving in a bearish channel. now its time to look for bullish view... if this continue to downwards or break above the bearish channel.on topside we are facing the trendline resistance. wait until price breaks the trendline and retest for enter long side... on topside we have bearish gap and a strong fall area to book profits. look for long...
In this approach, Once Breakout or Breakdown levels are breached, we initiate Long or Short positions accordingly with Proper stop loss as mentioned in the chart. Since the Risk Reward is 1:3, we can take a maximum of 3 trades. If we follow this approach, over the long run, money is gained. A trader is advised not to treat these setups as lottery tickets....
Observations:: ----->> Previously a strong sell of is observed @433 level, price again comes back to this level, if this is a false break out @ resistance sell below the resistance again. Keep your stop loss @ 436. Look for sell opportunity, if price falls below resistance only.
ITC still stands good on all the time frames. Now there is a probability of a shark pattern on the hourly chart, and it unfolds stock can test 345- 350 levels in the coming weeks. The stock should sustain 330 levels for this probability to hold.
India Tobacco Company Limited . The Achilles heel of every investor. Company website- www.itcportal.com Honest management, low debt , high dividend yield 4% , growing sales yoy Diversified businesses - Fast Moving Consumer Goods ( fmcg) , Hotels, Paperboards and Packaging, Agri Business and Information Technology. FAMOUS BRANDS- Aashirvaad - Atta/...
Long Above - 315.70, T1 - 321.85, T2 328.10, T3 - 338.80, T4 - 350.20 , T5 356.25, T6 362.70...... SL - 295 Short Below - 288.50, T1 - 284.45, T2 - 280.95, T3 - 271-269, T4 - 258.75, T5 - 252.50, T6 - 246.30....... SL 306.20
ITC tumbled down from 262 levels to 222 levels. It created support around 222 levels, tested it many times, and started rallying again. Structure on the shorter timeframe is of higher highs and higher lows. Today it rallied to around 245 levels, but couldn't sustain and closed around 239 levels. Immediate support for the stock is around 237-238 levels, if it...
#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