01-12 Daily chart of ITC1! LTP: 342.55 The RSI looks weak. The setup is bearish and it is under the 50 mark which indicates weakness The candles did breach the resistance (manual) at 349.15 but couldn't hold and have been respecting the resistance. Support (200 EMA) is at 300 and the gap between the candles and 200 EMA is not comfortable. I have gone short for intraday.
Refer chart for more details ITC more weaker below RS 197.
www.tradingview.com CMP : 213 TO 215 SL ON CB : 202.25 TARGET : 236, 252
Expecting a target of up to 230. Buy above 218.
ITC ready to go either retrace from current level to the support or breakout