ITL Analysis #m_e

On a daily time frame, we can see that ITL share has made a Bullish CUP AND HANDLE. Break out from this pattern will happen once the scrip breaches above an important resistance level of Rs 157 and stays above it. This upward movement is expected with increased volumes. RSI line took support close to 50 levels and has bounced back. It denotes the regaining positive momentum on the stock. Positional traders should enter above Rs 157 level while maintaining stop loss at Rs 145 on a daily closing basis.