ITC, as predicted in the last 2 posts on ITC (linked below) is trading in a value area.
Today, it made a huge bullish marubuzo traversing the range of value area and closed just below the resistance of 203.
However it did so with lot less volume when compared with its past breakout; which is primarily why I don't see it sustaining the bullish behaviour.
The effects of Earning Release are already history, however a pending Dividend declaration may drive the stock upwards.
206 is the key level to watch out for that to happen. Also look out for volumes in play.
The stock may see some upward movement before commencing its downward journey.
Short below 203 for Targets of 200, 197 and 194.
If it sustains 206 with high volumes - Buy 205CE or 210CE July options and sit back relax, buy some sunfeast biscuits (please do not smoke!) & wait for it to make new highs.
In case of gap openings; follow ORB on 15 min candle.
Today, it made a huge bullish marubuzo traversing the range of value area and closed just below the resistance of 203.
However it did so with lot less volume when compared with its past breakout; which is primarily why I don't see it sustaining the bullish behaviour.
The effects of Earning Release are already history, however a pending Dividend declaration may drive the stock upwards.
206 is the key level to watch out for that to happen. Also look out for volumes in play.
The stock may see some upward movement before commencing its downward journey.
Short below 203 for Targets of 200, 197 and 194.
If it sustains 206 with high volumes - Buy 205CE or 210CE July options and sit back relax, buy some sunfeast biscuits (please do not smoke!) & wait for it to make new highs.
In case of gap openings; follow ORB on 15 min candle.
Ghi chú
Gap UP Opening but NIFTY in a bullish modeBuy above 206
Sell below 203
Ghi chú
Fight the urge - sell only after close below 203 on the 5 min chartGhi chú
Let it close below. Don't create SL orders and get trapped as 203 would act as a Support for the uptrend and a SL for Long Orders.Giao dịch đang hoạt động
Sell Triggered at 202.8Giao dịch đang hoạt động
Target 200Ghi chú
SL 205Đóng lệnh: dừng lỗ
Ghi chú
That was a bad SL - should have kept it above 206. RRR = 1 screwed me up. Lesson learnt there. A close above 203 is definitely a positive bullish move.206 still holds for tomorrow's trades.
If there is gap down - will go long.
Those interested can try STBT at 205 levels. market should restart from 203 tomorrow.
Giao dịch đang hoạt động
Sell triggered at 208Target 206
SL 209
Ghi chú
SL changed to 208Ghi chú
Sl - 208.25Đóng lệnh: đạt mục tiêu
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