ITI Technically looks Good. Potential stage 2 Underway.
📈 Stock Analysis: Indian Telephone Industries Limited (ITI) - Daily Chart 📊
🟪Setup Overview:
➡️Entry Zone: ₹408.65
➡️Current Price: ₹379.20
➡️Stop Loss: ₹323.70 (Closing Basis)-Deep SL. Manage risk and position size properly.
➡️Target 1: ₹501.20
➡️Probable Long-Term Target: ₹718.85
🟪Key Observations:
➡️Volume Spurt: Recent bullish candles are accompanied by notable volume spikes, indicating accumulation and strong buying interest.
➡️Range Breakout in Progress: The stock has been consolidating in a tight range for several months and is now showing signs of breaking out above the upper boundary.
➡️Technical Strength: The breakout aligns with a well-defined risk-reward setup.
Higher volume near resistance increases the probability of a sustained move.
➡️Risk-Reward Ratio: With the stop-loss defined at ₹323.70 (closing basis), this setup offers a favorable risk reward for positional traders.
➡️Sectoral Support: ITI is part of a growing sector with robust demand potential, which adds a fundamental tailwind to this technical setup.
🟪Strategy:
A decisive close above the Entry Zone (₹408.65) could trigger the next upward leg toward Target 1 (₹501.20).
Long-term investors can look for a potential rally toward ₹718.85 if the trend sustains.
Maintain strict discipline with the stop-loss to manage risk effectively.
⚠️Fundamentally very weak.
⚠️Still we are in a sell-on-rise market.
⚠️High Chances of breakouts failing. Once again reiterating the importance of risk management.
📢 Disclaimer:
This analysis is for educational purposes only and should not be considered investment advice. Please do your own research before making any trading or investment decisions. 🙌
🟪Setup Overview:
➡️Entry Zone: ₹408.65
➡️Current Price: ₹379.20
➡️Stop Loss: ₹323.70 (Closing Basis)-Deep SL. Manage risk and position size properly.
➡️Target 1: ₹501.20
➡️Probable Long-Term Target: ₹718.85
🟪Key Observations:
➡️Volume Spurt: Recent bullish candles are accompanied by notable volume spikes, indicating accumulation and strong buying interest.
➡️Range Breakout in Progress: The stock has been consolidating in a tight range for several months and is now showing signs of breaking out above the upper boundary.
➡️Technical Strength: The breakout aligns with a well-defined risk-reward setup.
Higher volume near resistance increases the probability of a sustained move.
➡️Risk-Reward Ratio: With the stop-loss defined at ₹323.70 (closing basis), this setup offers a favorable risk reward for positional traders.
➡️Sectoral Support: ITI is part of a growing sector with robust demand potential, which adds a fundamental tailwind to this technical setup.
🟪Strategy:
A decisive close above the Entry Zone (₹408.65) could trigger the next upward leg toward Target 1 (₹501.20).
Long-term investors can look for a potential rally toward ₹718.85 if the trend sustains.
Maintain strict discipline with the stop-loss to manage risk effectively.
⚠️Fundamentally very weak.
⚠️Still we are in a sell-on-rise market.
⚠️High Chances of breakouts failing. Once again reiterating the importance of risk management.
📢 Disclaimer:
This analysis is for educational purposes only and should not be considered investment advice. Please do your own research before making any trading or investment decisions. 🙌
הערה
Rejecting From resistance. Nonetheless, keep this on Radar. עסקה פעילה
33.2% in a few trading sessions. Book partial. 
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.