Buy ITC CMP Stop loss 177
Short below 548 target is 525
Huge Sell Volume
But the support is still holding.
Good time to go Long.
50 EMA will act as a resistance for the short term.
Once 20 EMA crosses above 50 EMA will see some good up move.
Good time to hold for Long term.
The trend is going in accomodating. Possible breakout in an uptrend.
A strong resistance level has formed.
Recovery from the last downswing reached a 50% Fibonacci level. Possible trend correction happen.
The trend is sustaining on the resistance level with negative divergence, short below the support level Buy above the resistance level. But mostly it will go down.
Short below the resistance level.
There is a multi-level head and shoulder pattern forming, and each time the shoulder resistance level has broken. Also, it has reached and going down the Fibonacci retracement levels, Potential pullback rally can start, Don't go for a higher profit.