ITC LTD

ITC breakout with volume and Elliot wave counts

1 487
This stock has been under performer most of times, but now the way chart is formed is a good sign for bulls, now it may do out perform against market also.
On daily time frame it has given good breakout along with good intensity of volumes, also trend indicators and oscillators are in favor to go long, Overall wave structure is also suggesting same bias as a bullish views.
Some highlights are shared below as a snapshots.


Breakout with good intensity of volume on daily chart
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Wave counts and all the key levels are mentioned on chart, along with stoploss and targets.
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MACD in weekly positive above zero line
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MACD in daily positive, uptick and above zero line
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RSI breakout on daily along with uptick above 60 & 70 levels
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RK's mass psychological cloud and RK's stop line both are suggesting to go long
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Price is above upper Bollinger band in daily chart, good momentum can be seen ahead
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DMI and ADX in daily chart both are in favor to go long, both are positive
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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.

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