Technical Analysis of ITC Stocks for Short Term Trading – June 28, 2022

Ruchit Jain Ruchit Jain 7th September 2023 - 05:09 pm

Looking for short term trading stocks? Find out the stock pick for today.

Short Term Trading Pick for the Day -

Short-term trading involves trading strategies in the stock markets in which the period between the buying and selling of the stock is within a range of a few days to a few weeks.

Short-term trading can give you high returns but it can also be risky. A short-term trade can last from as little as a few minutes to as long as several days. To succeed in this strategy a trader must understand the risks and rewards of each trade.

Recommendation	BUY
Buying Range	272-270
Stoploss	262
Target 1	282
Target 2	290

1. The stock has been forming a ‘Higher Top Higher Bottom’ structure and is thus in an uptrend.

2. The prices are trading in a ‘Rising Channel’ and have resumed the momentum from the support end of the channel.

3. The ‘RSI Smoothed’ oscillator has given a positive crossover and is in a Buy mode.

4. Hence, we advise traders to buy the stock in the range of Rs.272-270 for targets of Rs.282 and Rs.290 in next 2-3 weeks. The stop loss for positions should be placed below Rs.262.

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Disclaimer: Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

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