ITC trade ideas
Average up/downITC is one of the finest stock in equity markets. Triangle pattern breakdown was occurred at 204-205 on 07/01/2021 which shows the opportunity to short, BUT on 12/01/2021, spinning top candlestick has occurred which indicates uncertainty in price action.
ADVICE: Average up/down by buying half at high/low and buying other half at low/high.
Ascending triangle ITCAs per my Analysis ITC making ascending triangle
Strong support at 200-195 if break then you will see it 160 but that not going to happen yes it will eat that level stop loss and move or will go up from 201.Only for education purposes
Approaching good support point to re enter.We can expect a swing from this point in ITC and the same to be watched out at.
ITC in Corrective Wave of elliott wave ITC may retrace till the Point C on the chart, then it may bounce from it. once it breaks top trend line there is the signal to buy ITC.
It seems following Elliott Wave pattern lets Observe it
ITC looks rangebound but it fares suffocated ?It has been a rangebound movement today. And we all know what happens in range ----***TOP SECRET***
So get ready for the move on either side but prepare to buy if the stock breaks price action and can take profit at the red line
ITC Jan 10-15 Target 232ITC has been underperforming in 2020 with all its peers shining so a bet on the ITC. With FMCG at an all-time high, this cant is at this price(I am not an expert fundamental analyst but it's just a feeling). Let's move into the technicals.
A very beautiful Cup or rounding bottom chart brings the ITC target to 232 in January and the monthly candles are creating a very nice double bottom pattern and a W recovery.
Close below 207 I will exit my trade for Jan 210 CE
I purchased it at 9.15 for a chart target of 232
THIS YEAR BULL LIKE ITC ON THIS LEVEL THIS YEAR BULL LIKE ITC
ON THIS LEVEL FOR TRAGET 240/ 280 / 340 / 430...
ITC HI,
I m looking to buy ITC above 218.50, on a closing basis, with a final sl 198 for the first target of 261.
Breakout for a little or average move can be expected I can see a trendline and stock trade narrows down , trading on SM 20 and a good volume built in this level.
#note this is for my learning to evaluate myself, maybe keep this in your radar, I am doing Paper trade only
ITC210CE and ITC215CE
ITC - A CRYING BUYITC has been in the eye of storm by the investors for its inability to break the 200. Now that it broke, met the resistance and then fell near the 200, we complete action and reaction. The current phase is resolution. Ideally this calls for double the size of the positon, place the stop 198 aggressive, conservative 201.20 part 219 profit balance 230. Stay long.
Sideways movement expected The current price is at a strong resistance zone, and considering the Option OI & PCR, stock is most likely to be in consolidation phase. Since it will be range bound, one can take a call accordingly. I would prefer to enter in a short straddle for Jan 2021 expiry.
