ITC - Count Seven & Go To Heaven (Wave Analysis)

9 jul 2020

Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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Once Seven Waves are done on the upside- structure completes & Next larger degree wave could start soon for ITC which most probably points to the downside direction but as a trader, we have to put proper risk management to get a maximum advantage (check trading strategy mentioned below)

Importance of Number Seven

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Number 7 came from - Seven headed flying horse - "Uchchaihshravas" was obtained during churning of milk ocean (Samudra Manthan - as suggested Hindi)

Horses signify

• Seven days in a week
  Seven sages called Saptarishi
  Seven colours of the rainbow
  Seven Chakras of Yoga
  

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Last TradingView Status Update
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11:36 Hrs / 9th July 2020 - ITC Stock Update - Please check last idea-"Bearish Gartley" Suggested Buy above 195 for 200 & 205-207. We can repeat the same strategy again. Strictly Buy Above 195 for 200 & 205 upsides or Sell Below 194. Thanks

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TradingView Profile Page for Previous “ITC” stock ideas
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in.tradingview.com/u/AbhishekHSinghCMT/

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Trading Strategy
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Plan A
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Strictly holding above 195 – look for Target 1- 200 & Target 2 – 205/207 which is valid & open only if the stock crosses above 200 & holds – that means it should not slip or fall below 200 level

Plan B
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Strictly Selling below 194 for Target 1 – 190/191 & Target 2 – 185 open or valid if stock slips below 190

Plan C
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No trade zone or strictly avoid any trading between 194-195 zone & Execute Plan A or Plan B according to the price movement

Plan D ( Long Term Analysis)

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Scenario – Reaches close to 209 & fails to cross on the upside then sell or if crosses above 209.50 then sell later – Target 1 – 180 / Target 2 (Strictly Below 180) for 157-158 / Target 3 – (Strictly Below 157-158) – 135 which is final target downside

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Thanks for watching the idea. Take Good Care of Yourself & dear ones. Good Night