Wednesday, June 24, 2020

Trade 4

I have been tracking ITC for quite some time. It was following a higher bottom and higher top for 3-4 days & low volume consolidation was there. As we know small candles give volcanic eruption.


Image source: Reliance securities

This is an intraday candlestick chart of ITC. 

Step 1; Alert: Strong volume (1m) break of R1 resistance. 
Step 2; Confirmation: Increasing volume and break of R2. 
Step 3; Consolidation phase and book of profit.
5 min intraday chart. ITC. Image source: Reliance securities
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