ITC has been consolidating for quiet a while now and it did give an amazing upside move in the previous week only to be rejected and fall back inside the zone. The Supply zone looks very strong and with the current weakness and uncertainty going forward either side breakout cannot be ruled out.
It will be interesting to see which way does it go.
On the downside look for the first demand zone and conservative traders can trade on the breach of the same for the aggressive and confident ones they can look for a breach of the Triangle being formed.
Keep in mind the markets are becoming very volatile by the day and anything can happen.
It will be interesting to see which way does it go.
On the downside look for the first demand zone and conservative traders can trade on the breach of the same for the aggressive and confident ones they can look for a breach of the Triangle being formed.
Keep in mind the markets are becoming very volatile by the day and anything can happen.