The stock has broken crucial support level of 192 on Friday and there is a short buildup in the futures with an increase in open interest of 5.93 % on Friday, the stock could be a good opportunity for short selling especially for intraday on Monday.
There is a bearish engulfing pattern on Friday and the stock is below 9 day,20 day, 50 day moving average indicating a down trend in the stock.
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Stock Ticker – NSE: ITC – ITC Ltd. – CONSUMER GOODS
Bearish Trade plan:
Entry Level 186 Target 176 Stoploss 192
Analyst Rating – :4/5
View Posted on 2020-09-05
