Good volume seen
took support at 116-117 and bounced back
trading above 200 EMA on daily chart
following trendline resistance buy once this resistance is broken by strong candle
Buy 121-122
SL 116 - 117
TGT 133 - 137 - 143
Please do correlate by yourself also on charts. This is for educational and paper trading purpose only. Please consult your financial advisor...
ITI closed at a very good point, a breaking point of Flag and Pole pattern which looks to play out well...
If ITI sustains above 127 levels we can see an up swing towards 160 levels in near future...
Since the pattern is on weekly chart, the stock will take time to mature for about 1-2 months.
pl. keep an eye on it...
Note: Only educational purpose not a trade advice.
Flag pattern and breakout from it...but volumes are not too good. On 15 June 2020, it broke out with huge volumes from a channel. Flags are known to give good moves, but let's wait and see...Targets are highlighted by horizontal lines..Trade at your own risk. This is just for educational purpose.
ITI CMP - 124.50
Indian Telephone Industries Limited is at an interesting levels and can breakout anyside. One can go for Intraday trade setup on both sides with the following entry, exit & targets
Buy at or above 127 - 127.50 / Stop Loss 123
Target 1 - 129
Target 2 - 132
Target 3 – 134 / 135
Sell at or below 123.50 / Stop Loss 128
Target 1 - 122
Target 2 -...
Chart is Self Explanatory. Purely a price action strategy.
Trend is the King.
On every Flag Breakout, there is a huge movement. Keep a close watch and be ready before a breakout.
