14 June 2014

ITC Short Term View

24th June

Stopped Out! 

The wave B has terminated at 312/311 instead of previous count low 326.
View remains same but the targets get revised.
375
But the moves can be very sedate as the stock has moved under 200DMA.







Wave 5 running with 5 wave ABCDE channel or ED pattern operating.
Wave A and Corrective Wave B now seems to have completed and it should head northward to 388 in sub wave a of wave C. It should now enter a phase where every small dip will be a long opportunity for FnO traders.
Stop below 324


Daily Chart

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