ITC - Elliott Wave Analysis

by Dean Market Profile on Tuesday, May 29, 2012 in ITC, Stocks

ITC has seen a consolidation phase after a steep rise in wave [3], as shown on the chart. This whole rise is taking place in the form of a breakout from a triangle. Now the wave [4] may unfold in a couple of ways, either it is a triangle similar to the one in the wave IV of higher degree, or a simple a-b-c with wave b as a triangle, and wave (c) targets in the range of 223.85 - 221. Since wave [2] was short and sweet, wave [4] was going to be complex and time consuming. Keep an eye on the larger market to catch the tradable wave [5] in ITC.

About Dean Market Profile
Dean is a fulltime trader for last 13 years. He is passionate about technical analysis. His instruments of choice are Nifty and banknifty futures and options. His main analysis and trading tools include advanced techniques like Market Profile, Voilume Spread Analysis and Order FLow Analysis. Dean is a teacher at heart and loves sharing his learnings with committed traders. You can check out his courses here...

2 comments:

Ashish Agarwal29 May 2012 at 13:48
thanks Aniruddha ji. keeping an eye on this.
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Tuesday, May 29, 2012

ITC - Elliott Wave Analysis

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