ITC Possible 25% upside

ที่อัปเดต:
ITC (CMP: 172.20)
Date: 12 Oct 2020

Interesting setup in ITC. Today's price has broken the falling trendline and most important point to note is that the volume breakout is 3 times than the avg. volume in the last 40 days. The only concern is that today's inverted hammer candlestick couldn't give breakout above the 20 DEMA. However, since Covid, whenever RSI in ITC has gone past 40 levels, the stock has given a good 15% - 25% price appreciation. Also, the current PCR level is 0.45 which is a good sign for price reversal. Strong conviction will come if stock is able to hold the current levels and go past 175 with good volumes. Considering festive season is round the corner and the stock has already got beaten down so much I think the stock can go upto 200-210 levels.

I will be closely watching the stock this festive season.

T1-180. T2-190, T3-200; SL-160. Trail the stop loss by every 10 points once it starts achieving its target levels.
Duration 1.5 months. ( 30 Nov 2020)
การซื้อขายยังคงดำเนินอยู่
T1 achieved
การซื้อขายยังคงดำเนินอยู่
T2 achieved
ปิดการเทรด ด้วยตนเอง
T3 Achieved. Those who want to continue to stay invested can look for next target at 210 and trail the stop loss with every 3 point jump.
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