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ITC LTD.

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ITC trade ideas

What's Going On With ITC?NSE:ITC has had a recent de-merger which let to a price decline of more than 5% last week. However the stock was already in a retracement phase as seen on weekly timeframe and it went down all the way to 430 rupees which was the 71.8% retracement level. The current BB range is 400 to 500 which is a 20-25% volatility range in the 3 Standard Deviations. The price is almost in middle of it. It is above the 21 EMA which serves as the basis. The RSI is above 50 and just above the MA. Anything can happen. It can fall down all the way to 400 or it can shoot up all the way to 500 in just a couple of days. I have a buy position already but I need to be cautious and continuously monitor it as the volatility is high. It would be better to monitor it on an hourly basis and focus on the RSI Channel. Once its broken, We can move to a daily time frame and make hold vs exit decision.
NSE:ITC
by jyotibansalanalysis
ITC : In a Buy territory,managed to close above Supertrend today ITC : In a Buy territory,managed to close above Supertrend today although very near to the resistance of 500. Important resistance levels to watch for are 500 and 530 . MACD is positive . The only things that concern me are: The size of the today's Green candle and nearby resistances . ( Not a Buy / Sell Recommendation Do your own due diligence ,Market is subject to risks, This is my own view and for learning only .)
NSE:ITCLong
by drdevanshu
ITC: Bearish Momentum UnfoldsITC: Bearish Momentum - Short Trade Setup ITC Key Points The 4-hour chart of ITC confirms a sustained downtrend, with TP1 and TP2 targets successfully achieved. The price action suggests the continuation of this bearish momentum, keeping TP3 and TP4 firmly in sight. Trade Details: Entry Price: ₹508.85 Stop Loss: ₹518.65 (strategically placed above resistance) Targets: TP1: ₹496.70 ✅ TP2: ₹477.05 ✅ TP3: ₹457.40 (potential) 🔄 TP4: ₹445.25 (final target) 🔄 ITC Share Analysis: Risological Alignment: The Risological trend line slopes downward, confirming the prevailing bearish trend. Price Structure: Lower highs and lower lows indicate a clear seller-dominant market environment. Momentum Strength: Strong red candles suggest heightened bearish activity, increasing the likelihood of hitting the remaining targets. Action Plan: Existing Traders: Secure partial profits and trail stops to lock in gains. New Entrants: Wait for minor retracements toward the entry level for an optimal risk-to-reward ratio. ITC's bearish journey continues—watch for TP3 and TP4! 🛑📉
NSE:ITCShort
by ProfitsNinja
look Out, ITC exhausting!ITC appears to be exhausting its upmove, signaling a potential downmove. After a strong rally, the stock is showing signs of overbought conditions, with technical indicators like the Relative Strength Index (RSI) suggesting a reversal. Additionally, profit-taking by investors and a lack of fresh buying interest could contribute to a downward trend. Market sentiment and external factors, such as economic data or sector performance, may further influence ITC’s price movement in the near term. View becomes invalid if daily close is above 515. Disclaimer: All ideas are my personal views and not financial advise. I do not have any Telegram channel nor do I sell any courses.
NSE:ITCShort
by Numan_SuriyaMohammed
2
ITC S/RSupport and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. 20 EMA (Exponential Moving Average): Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory. Combining RSI with Support and Resistance: Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal. Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:ITC
by zenthosh
ITC all time high breakoutDisclaimer: I am Not SEBI Registered adviser, please take advise from your financial adviser before investing in any stocks. Idea here shared is for education purpose only. 26.09.2024 Swing paper trade Buy- CPM Target- 538,556,574,+++ Stop Loss-478 #papertrade #learningonly #Swing trade 1.Breakout- all time high break out 2.Volume- Rise in average volume 3. RSI-Bullish 4. Chart Pattern- moving forword with trend line. News:- ITC shares hit record high, market-cap moves past Rs 6.5 lakh crore for the first time Maker of instant noodle brand Wai Wai plans pre-IPO funding for Indian unit in 2025
NSE:ITCLong
by Rahulcheruvath