ITC LTD
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ITC: Bearish Momentum Unfolds

ITC: Bearish Momentum - Short Trade Setup

ITC Key Points
  • The 4-hour chart of ITC confirms a sustained downtrend, with TP1 and TP2 targets successfully achieved.
  • The price action suggests the continuation of this bearish momentum, keeping TP3 and TP4 firmly in sight.


Trade Details:
  • Entry Price: ₹508.85
  • Stop Loss: ₹518.65 (strategically placed above resistance)


Targets:
  • TP1: ₹496.70 ✅
  • TP2: ₹477.05 ✅
  • TP3: ₹457.40 (potential) 🔄
  • TP4: ₹445.25 (final target) 🔄


ITC Share Analysis:

  • Risological Alignment: The Risological trend line slopes downward, confirming the prevailing bearish trend.
  • Price Structure: Lower highs and lower lows indicate a clear seller-dominant market environment.
  • Momentum Strength: Strong red candles suggest heightened bearish activity, increasing the likelihood of hitting the remaining targets.


Action Plan:
  • Existing Traders: Secure partial profits and trail stops to lock in gains.
  • New Entrants: Wait for minor retracements toward the entry level for an optimal risk-to-reward ratio.


ITC's bearish journey continues—watch for TP3 and TP4! 🛑📉

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