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ITC LIMITED is perfectly trading in an upward trading channel ( Monthly Chart).
In the monthly, weekly and daily chart of ITC LIMITED
important trading levels are
387.50, 347.00 311.00, 284.00, 212.00
All levels can be used for buy above and sell below on sustainable basis targeting the next level in long term.
Trades can be initiated by putting the stoploss
of 2.3% of the price on sustainable basis.
I always suggest traders to trade in multiple lots and keep booking profits from few lots when ever they give adequate profits and exit the full position only, when the price comes near target level or the actual trading level, where the trades were initiated .
At all above mentioned levels prices have not sustained for longer duration or say generally not closed on those levels (closed above or below that levels), so technically all of these levels are very important and traders can initiate the trade.
Current Level Analysis
present range - 347.00 - 311.00
It is expected that if it breaches the level 311.00 on sustainable basis than it will not give monthly close above 347.00 level minimum for next 5 months.
In the same way if, it breaches the level 347 on sustainable basis than it will not give monthly close below 311.00 level minimum for next 5 months.
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