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Technical Trading Idea
* ITC halted its fall around the reversal zone of a Bullish Butterfly pattern on weekly chart and started rebounding from last few days. We are witnessing a double bottom kind of formation on daily chart. RSI oscillator started moving northward from oversold territory on both daily and weekly scale, which is a sign of relief for the bulls.
* Looking at current chart structure, we are expecting a bounce in the stock towards 193 levels. Thus, traders are advised to buy the stock with stop-loss of 160.
Buy ITC Ltd @ 2-3 Days SL 160 Target 193 CMP166
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