ITC forms a symmetrical triangle pattern
The stock is currently under consolidation and we can see a formation of symmetrical triangle pattern.
On the upside, 275 and 282 are important hurdles to cross before any significant upward momentum.
On the downside, I see strong support at 258.
Important to note that the stock has found support at or near the 50 day EMA at every downside.
On the upside, 275 and 282 are important hurdles to cross before any significant upward momentum.
On the downside, I see strong support at 258.
Important to note that the stock has found support at or near the 50 day EMA at every downside.
Note
Today, the important levels of 275 and 282 were crossed. Most importantly, the stock price managed to close above those levels, near its day high of 285.Note
310 isn't far off once 300 is crossed. Might see resistance around 300 level.Note
310 achieved.
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