As RSI 14 period is resisting at 60 so the trend is neutral or not bullish in short term
Strong supply or resistance at 205
Weekly RSI also below 50
So we can sell OTM calls to earn theta decay.
Views negate above 215 on a closing basis
For educational purpose only
It's in the upward correction towards the first zone of resistance between 217 - 233
Once it breaks above this zone then the next target is 245
245 is the confluence of resistance by the falling trendline and 50% Fibo Retracement.
Invalidation of this buy idea would be the break below 150.
Bullish Harmani on the technical of the ITC shows at strong buy for the short term trade.
Supporting's for the trade plan:
Candlestick pattern - Bullish Harmani
MACD supports the buy as sit is above 9 day SMA.
CMP is trading within the support and resistance.
ITC LTD Support and Resistance Level
I have marked most obvious and recent Support and Resistance level for the script ITC Ltd.
Orange Lines - Monthly Support/Resistance Lines
Blue Lines - Weekly Support and Resistance Lines
Fluorescent Green Lines are - Daily Support and resistance line.
In the price bar on the right hand side you will the price in...