ITC - Sell
ITC failed to pierce its topmost resistance of 270-273 and reversed back testing the 20 EMA again, standing between 20EMA and 34EMA. Stochastic are weak, and also CCI has given the famir pattern, suggesting further fall in price. if 261 is broken then we can see the bottom of 256 which is the 38% retracement of the rally. Price is also giving the negative divergence over stochastic and RSI. The Point of 20EMA 264.6 can act as a trend decider. I wont go short above it. That is the stoploss point for me.
Atleast!!!!
Please check the charts.
ITC failed to pierce its topmost resistance of 270-273 and reversed back testing the 20 EMA again, standing between 20EMA and 34EMA. Stochastic are weak, and also CCI has given the famir pattern, suggesting further fall in price. if 261 is broken then we can see the bottom of 256 which is the 38% retracement of the rally. Price is also giving the negative divergence over stochastic and RSI. The Point of 20EMA 264.6 can act as a trend decider. I wont go short above it. That is the stoploss point for me.
Atleast!!!!
Please check the charts.
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