Fundamentally speaking:
After spending hours researching ITC ltd. I finally came up with a sound target price( long term), it looks like a value buy at these prices for a long term price target between 190-210. ITC has a history of paying a good amount of dividends to its shareholders and buying at these levels will eventually lead to gain in both ways, price appreciation and dividend income. lastly, Risk-reward is looking favorable for long-term buy.
Technically speaking:
ITC has formed a double Bottom pattern and it has even broken the neckline, even after being an FMCG company(not just), the stock has been in a downtrend for quite some time now, and has tested the 160s levels twice. I am expecting it will come again to test the neckline support or the long term trendline resistance level. The vertical line is a MACD crossover in a 1Hr. timeframe, One can get into the trade after confirmation from the pattern itself for a free target.
After spending hours researching ITC ltd. I finally came up with a sound target price( long term), it looks like a value buy at these prices for a long term price target between 190-210. ITC has a history of paying a good amount of dividends to its shareholders and buying at these levels will eventually lead to gain in both ways, price appreciation and dividend income. lastly, Risk-reward is looking favorable for long-term buy.
Technically speaking:
ITC has formed a double Bottom pattern and it has even broken the neckline, even after being an FMCG company(not just), the stock has been in a downtrend for quite some time now, and has tested the 160s levels twice. I am expecting it will come again to test the neckline support or the long term trendline resistance level. The vertical line is a MACD crossover in a 1Hr. timeframe, One can get into the trade after confirmation from the pattern itself for a free target.
Dagangan aktif
So as I have mentioned earlier that ITC will come to test its support levels again and then it will resume its upward movement, that's exactly what happened.Ride the rally for a target of 210-220 within a short span of time.
Trade accordingly
Nota
Reaching our first target of 191.35 up +9% will exit around 200. Trade accordingly
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.