ITC Stock Prices – Prices Struck in a Range, Be Careful at the Support Zone!

  • Market Overview

ITC Stock Prices are Struck in Range for a very long time. The Market movements are limited between the narrow levels of 200 230. Looks like long-term investors who bought the stock, expecting Strong movements, are now confined between those narrow ranges. Can we expect some sharp moves in ITC? Well, take a look at the price chart.

Price Action Analysis of ITC Ltd (NS: ITC ). 1D Chart

We can clearly notice a narrow range of ITC Stock Prices in the 1D Chart. The Prices have tested the support zone at 200, multiple times. If we count, it has almost tested 6 times so far. If you’re a professional trader you can understand that some uninformed buyers are struck at the Support zone. They’re Vulnerable to a false move. If Prices create a false breakout, most of these Uninformed traders who’re stuck in the Stock will be forced to liquidate their positions.

Another important point is to notice the declining Bullish momentum. After each consecutive test at the support, the upswings are decreasing in size. It seems like buyers are losing their strength and ability to defend the Support zone.

The only factor that’s supporting the Buyers is the Increasing Volume. The Trading volume is increasing in the last couple of days which can be considered as a positive factor.

There’s a high possibility of Prices testing the Support zone once again or even Breaking the support zone. A crack below 195 can push the prices all the way to the Downside. On the other hand, if buyers are able to take control of Stock prices they should break above 220 first, if that happens then prices could shoot up. Either way, for a significant move, Price action must break from the narrow range, or else ITC stock prices will be struck within those confinements. Keep an eye on the Price Action and Trade accordingly.

Original Post

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  • Sankara Narayana raju @Sankara Narayana raju
    Thank you for your excellent analysis.
    Like 0
  • Alia Jameen @Alia Jameen
    ITC is likely to go up, I think
    Like 1
  • Swami nathan @Swami nathan
    Very well written and analysis. i am watching the price action in 15 min
    Like 0
    • Alia Jameen @Alia Jameen
      @Swami nathan Can you share your analysis ?
      Like 0
    • Alia Jameen @Alia Jameen
      Infact I am also watch 15 min
      Like 0
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  • Swami nathan @Swami nathan
    Excellent analysis sir..
    Like 0
  • janardan talla @janardan talla
    everybody knows, it's between 200- 230if it goes below 200, will go more down.if it moves up,then may go higherwatch outwhat kind of logic is it??useless
    Like 10
  • Sree Kumar @Sree Kumar
    price action in last 15 minutes
    Like 3
  • Subhasish Chaki @Subhasish Chaki
    and it's a most loved stock for generating monthly income by selling options..
    Like 5
  • Subhasish Chaki @Subhasish Chaki
    one more reason for price stuck in a range... promoter holding is zero, retailers have huge position, why should operator take it higher????
    Like 4
  • Mahen Daga @Mahen Daga
    only these 3 scenarios exist in any stock or index.. what is special in this analysis
    Like 27
  • PREETI BIRADAR @PREETI BIRADAR
    navinfluor
    Like 1
  • Srinivas Ghanta @Srinivas Ghanta
    high dividend paying stocks always remains in a range, ex itc, coal india ,omc'c, because only dividend funds and government funds are investors in them
    Like 1
  • narendra singh @narendra singh
    start buying again when it is touching 190 Or less
    Like 2
  • Kevin Pereira @Kevin Pereira
    will try to make 1000 shares of ITC and hold for long term, dividend can give me 15k a year ❤❤❤ aprox or a little less
    Like 13
    • V R Kotha @V R Kotha
      @Kevin Pereira stop dreaming. Govt. will take 33% of your dividend thru taxes
      Like 0
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  • Srikant Padhy @Srikant Padhy
    It can break the hardels n struck back the price220 plus.
    Like 0
  • Addy Jogger @Addy Jogger
    nice analysis , the main reason is company's dividend policy. the investors getting regular dividend return that's why they holding
    Like 5
    • V R Kotha @V R Kotha
      @Addy Jogger It is other way. People are exiting high dividend paying companies as they have to pay huge tax.
      Like 0
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  • Ratan Jain @Ratan Jain
    All are watching who are trapped, hunters are hunting, trying to use wild cards i strongly recommend hold and buy, let it struck. Leaders move swiftly.
    Like 11

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