ITC case study
As per elliot wave theory counter is on verge to mature its motive phase,
ascending wedge pattern formation have resistance zone around 355-361 levels
counter have given bearish reversal on smaller time frame below 354 levels
now zone of 354-360 would act as strong resistance zone for counter.
bearish divergence on rsi with respect to price,
use rally in counter to exit from long positions, till counter does not give 2 consecutive daily close above levels of 363
down side if corrective phase unfolds counter might retrace to levels of 320-300-290
Time to be cautious on your investments.
ascending wedge pattern formation have resistance zone around 355-361 levels
counter have given bearish reversal on smaller time frame below 354 levels
now zone of 354-360 would act as strong resistance zone for counter.
bearish divergence on rsi with respect to price,
use rally in counter to exit from long positions, till counter does not give 2 consecutive daily close above levels of 363
down side if corrective phase unfolds counter might retrace to levels of 320-300-290
Time to be cautious on your investments.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.