1. This is a good stock at affordable price. Investors can look for this stock, current movement is bearish.
here I have drawn cup and handle pattern, where target could have been 70 if neckline was broken at 45.
now with help of fibonacci I have drawn probable retracement levels
2. RSI is in Oversold trajectory.
3. 200EMA resistance
Entry level :31-35
since last 15 - 20 days BTC is consolidating, It is likely to break down side.
Considering the current channel, It may come to 10130 to 10150 level and you can oberved the decline in relative strength as well.
Duration : 7 to 10 days.
ITC has created a wedge formation, wait for the price to get above 208 and with this move price has potential to gain 20% over next one month.
200 EMA and upper line of the wedge structure.
192 and wedge bottom line
T1 : 223
T2 : 252
The Major pattern is the Broadening pattern which stock is following since last year October 2019, it has almost doubled from then.
but if you see from April2020, the stock was consolidating sideways forming channel pattern. So indirectly it contributed towards flag formation, it has broken upside.
There are 2 Targets , Channel and Flag Formation
The set up has completed round shape, now currently forming handle part, it usually takes 1 month.
The probable retrenchment are drawn, wait for formation to get complete.
On reversal if price crosses neckline (103) , It may go up to 140-150.
Duration will be 8-9 week after neckline break out to reach the estimated level.
After 4 months of sideways consolidation, Price movement was uncertain, it was creating lower high and higher low continuously as result of that symmetrical triangle appeared.
You can observe EMA cross over too
Target : 1243, 1356, 1416
Stop loss : 1137
1. Triangle break out, sustain above it
2. Increase in Open interest with Future Price
3. High Volume
4. Fast EMA crosses Medium EMA
* 60% of the shares are owned by MF and FII's, apply trailing stop loss (upside only)
Entry : 62
Exit : 78
Stop Loss: 56
1. Diagonal channel break out
2. Delivery volume is increasing in comparison to day, week and month
4. Relative Strength
5. Monthly options Stats : 800 and 900 has maximum call writing
Entry Point :
Ideal price is 784, today's high but you can enter at current price
Price Target :
T1 : 805 ( previous 3 month resistance, Highest call...
1st : 304
2nd : 320
Duration : 3 to 4 weeks
1. News : Privatization of Railways, 30000 cr. more investment
2. Symmetrical triangle break out
3. Stock is above 200 EMA
4. Fast moving average about to cross over
Last 3 candles
1st day red candle
2nd day gap down follow by recovery
3rd day gap up with long green candle
broken down 204.40 resistance, represent 23.60% level as well
First Target 240
Second Target : 257
***You can go long on this stock, has good financial ratios
Positive factors :
1. 2 out of 3 windows are closed
2. Respected the trend line support
3. Piercing candle
4. Slightly closed above 50% retrencement
1. 10000 level is psychological support
2. didn't close 3rd window
It was an optimistic effort by bulls, Still the price area slightly vulnerable
it is not favorable for defensive traders, enter...
1. 3 Window formations
2. Strong refusal after Grave stone formation
3. 3rd window is closed today
4. Over Bought
Entry : Current Price
Stop Loss: 88.35
Exit 1st : 85.25
Exit 2nd :83.30
*Red line are Resistance
*Green lines are Support
Technical Part : Stock was rejected upside after last week rally, it didn't have any price support in that trajectory, we saw the profit booking on Monday.
Some might say, it happened due to financial report but that was just a bite at the cherry.
Now stock has retraced more than 50% and heading towards 61.80%. It is Excellent Bargain Price where you can get...
Things to look at
1. Price is at the base of ascending channel, highlighted with pink color
2. 10000 resistance level, 3 times tested in current rally. It also represent 0.618 retrenchment level based on 2019 July High, 13963 level
3. RSI decreasing
It already hit 9500 level, that was intersect point where green line that represent Symmetrical triangle on weekly time frame which got cross over with purple line that represent channel resistance on 4 hrs time frame.
now I expect, It to be fall on 7950 or 7600 level within next 4-5 days
BTC likely to get reverse from 9400-9500 level, It may fall on 7800-7900 level.
It will take time to break symmetrical triangle , you can close off your position over there.
Still volume is not in favor, it is in downtrend, you can see divergence at MACD as well.
Don't get carried away