LONG ITC above 181 Bullish divergence observed on multiple time frames.
High risk-reward ratio.
TRGT - 188
SL - 180
ITC trade ideas
ITCTHE DELIVERY QUANTITY HAS BEEN HUGE TODAY, THE CHARTS ARE SHOWING IT ALONG SUPPORT, IT CAN BE BOUGHT HERE WITH STOP LOSS OF 180, FOR 187 191 AND 194 AS TARGETS.
IF GOES DOWN THEN MIGHT GO TILL 175 & 170
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do your bit of research.
2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all.
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5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results.
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ITC Long IdeaITC, Enter 190-192, ITC is consolidating for a while now in the range although it tried to give BO but failed and faced res at 200 MA. so either side BO could give good momentum. I would suggest add small qty at current level and add more at 175-180. Also in case of up move add more qty above 200 MA.
ITC (After a failed trade will it give a move now ?)ITC was a failed trade for me the last time i updated the chart. However it still is consolidating in the same zone and is at a point of breach / reversal. The MACD indicator has been compressing for long now any confirmed reversal has to be supported by the breach of the trend line by the MACD line towards the upside. However if the MACD line continues its trend downward we might see ITC breaching its trend line and testing 191.75 levels which it hasn't broken for a while now. A breach of that level should give some decent movement.
The Question still remains will it breach it or will it reverse yet again
The market doesn't look like it is ready to go down so will ITC buck the trend or continue with it ?
