ITC LTD Support and Resistance Level

18 thg 9, 2016

ITC LTD Support and Resistance Level

I have marked most obvious and recent Support and Resistance level for the script ITC Ltd.

Orange Lines - Monthly Support/Resistance Lines
Blue Lines - Weekly Support and Resistance Lines
Fluorescent Green Lines are - Daily Support and resistance line.

In the price bar on the right hand side you will the price in respective colour code

Monthly Weekly Daily
49.51 211.10 182.40
73.95 220.79 190.47
87.41 239.79 197.57
102.46 253.28 214.40
119.42 231.68
127.90
141.58
153.40
163.25
205.38
216.39
228.49
236.20
247.76
266.07

A good way to qauntify expectations following a price breakout is with the volume associated with the breakout. If price breaks through the support/resistance level with large increase in volume, it imples that the new expections will rule.

Conversly,if the breakout is on moderate volume, it implies that very few investors expetations have changed and a return to the original expaectations is warranted.

There are also lot of other factors that also comes into play

This is not a trade setup chart. This chart is just to display support/resistance level, ''price break through and volume relation.''


*****This Idea is Published for Educational Purposes Only*******