ITC
*Trade Setup*
T1 - 230
T2 - 240
SL - 205
ITC has been trading in a range for a really long time.
200 remains to be a very strong support region and it has taken support over 5 times.
It has formed a triangle pattern so it has the potential to get out of that range and move higher.
Triangle pattern with 3 resistance is a good setup with high probability.
*Trade Confirmations*
- It has been trading in a consolidated range for a long time.
- Descending triangle pattern with 3 resistance is good.
- Volume is higher and it has crossed the average volume.
- Triangles are a really good patterns with high probability.
- Fundamentally good company.
Thank you for patiently viewing my ideas/analysis.
I appreciate it!
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Comment:
Unfortunately stop loss was reached. But its ITC so just hold it.