mvso999

IIFLSec- Price Action analysis

Long
mvso999 Updated   
NSE:ITC   ITC LTD
IIFLSec has broken above 72 level with Strong Move up to 75-76 level on back of strong volume push. VPA analysis of the subsequent retracement is indicating very little Selling happening on the counter.

Positionally the stock is in a established Bull trend expecting to touch 100, 120 on charts in the next 3 months.

View invalid below 50 EMA on 4 hour chart at 59 levels. Target1 has a good R:R at 1:3 at 100 and 1:5 at 120 Levels.



Trade active:
IIFLSec hit 20% UC on 7th July. Expect to touch 100 soon for T1.. Will book profit on half and will be holding half of my position for next target at 120.
Trade active:
Next 10 points done. IIFLSec reached 110.. Now 120 is in reach.. I will be exiting my position shortly.
Trade active:
Reached my target R:R at 120. Exited at 121 another half of my position. I have kept my next target at 140 as T3 with a SL at 115. Great run with IIFLSEC
Trade closed: target reached:
I will not be updating this counter anymore. Target having been reached. Remaining positions can be tracked for 140, 160 targets. SL to be moved 5 points higher than next targets as position moves to next level.
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