ITC
DOUBLE BOTTOM AT 183.70
Now this stock looks good to go long for something 5% appreciation.And even on Candlesticks it formed "First Sunny Day" pattern. So fromhere on i can expect the level of 192. Now place the stop-loss at183.70 and cover at 192. For 192 level it need to break the 50dmarersistence which is at 186.50. But the worrisome factor is Indicatorsall are showing lot of sluggishness. Even i tell you that downside isvery limited coz 200 & 100dma is placed at 182 & 181 respectively.
DOUBLE BOTTOM AT 183.70
Now this stock looks good to go long for something 5% appreciation.And even on Candlesticks it formed "First Sunny Day" pattern. So fromhere on i can expect the level of 192. Now place the stop-loss at183.70 and cover at 192. For 192 level it need to break the 50dmarersistence which is at 186.50. But the worrisome factor is Indicatorsall are showing lot of sluggishness. Even i tell you that downside isvery limited coz 200 & 100dma is placed at 182 & 181 respectively.
posted by Naveen Pantera at 10:12 PM
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