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