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NSE ITC – Elliott Wave Projection

Free nse itc calls

Free nse itc calls

Timeframe: Daily
The NSE ITC stock has undergone a corrective phase subsequent to reaching a peak of 499.7. Presently, it is trading beneath its 200 exponential moving average. The Average True Range (ATR) stands at 9.6, while the ADX has declined to 27.

It appears that the price is gearing up for the final wave 5 within wave (C). Having completed wave 4, the price seems to be descending in preparation for wave 5. Entry considerations for bullish traders would arise only if the price manages to sustain itself above 425. A swift upward surge could potentially shift the current wave 5 scenario into a new impulse. It’s noteworthy that thus far, no candle has managed to maintain itself beyond the breakout candle. This setup certainly warrants patience and observation.

Further updates will follow soon.

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