1. DIYTechnicalAnalysis is a private community of traders and investors interested in building wealth from Indian equity market. You can become a member with a one time registration fee of ₹199. Click here to become a member

ITC

Discussion in 'Technical Analysis' started by m_padmakumar, Oct 8, 2012.

Tags:
  1. m_padmakumar

    m_padmakumar Member

    Joined:
    Jun 22, 2012
    Messages:
    119
    Likes Received:
    5
    Break out pattern on ITC. In my opinion can be bought @CMP 278 with stop loss 267. Pl. share views.

    Thanks
     
    m_padmakumar, Oct 8, 2012
    Share #1
  2. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    Perfect Levels.
     
    shabbir, Oct 8, 2012
    Share #2
  3. yankeedin

    yankeedin Responder

    Joined:
    May 3, 2012
    Messages:
    218
    Likes Received:
    90
    SL 267!!!! how is this figure arrived at. as per me it should be 250-251
     
    yankeedin, Oct 8, 2012
    Share #3
  4. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    267 is when stock hit low for couple of days but did not crack that. Ideally 250
     
    shabbir, Oct 8, 2012
    Share #4
  5. verenmitter2001

    verenmitter2001 Member

    Joined:
    Sep 22, 2012
    Messages:
    354
    Likes Received:
    12
    Occupation:
    IT, Education & Ex-Army officer
    hi whats your view on ITC now.
    I think there is trend reversal starting as stock is going down gradual.
    Honestly speaking I am not able to analyse this stock. I entered at 285 with sl of 272.
    I am not able to decide what to do with this stock.
    Kindly advise.

    Regards
    Veren
     
    verenmitter2001, Nov 16, 2012
    Share #5
  6. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    U r right about trend reversal, solid break down in form of M in itc.
    Now it can easily test 265 where it has trend line support and @ 261 it has 50% retracement level support, so if u want to hold ur position u can choose stop of 260 or else exit from it and minimize ur stop.
    Take others view also.
     

    Attached Files:

    • itc.jpg
      itc.jpg
      File size:
      87.3 KB
      Views:
      134
    sanjay_sansanwal, Nov 16, 2012
    Share #6
  7. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,703
    Likes Received:
    1,940
    Never force yourself to decide something on this stock and why do you want to be deciding on this particular stock when you have thousand others to choose from.

    Your SL is hit and so get out of this stock for now and for few months. Make money with some other stock.
     
    shabbir, Nov 16, 2012
    Share #7