Hello friends, I am Surendra Pal. Welcome to the Indian share market. In today's article, I will discuss the support and resistance of some stocks and also explain which pattern is being formed in their chart patterns. So, let's start.
ITI LIMITED
First of all, we have taken ITI Limited. The first support in ITI Limited is at 287.50 and its breakout is if it breaks the support here as you can see in the image, I have made a rectangle, so if it breaks this rectangle from the bottom side, then you can see the lower target of 281. If it moves upwards, we will see resistance at 291.35. If it breaks the resistance and then goes further up, if it breaks the breakout of our rectangle, then you will get to see a target of around 300 for it.
In this image you saw where is the support and resistance and if the rectangle breaks out, then where is the target? In the image below, I will tell you about the chart pattern.
The time frame of the chart pattern in this image is 15 minutes and it is good for a long time if the triangle chart pattern that is being formed here breaks out above, then we will get to see the target of 322 and if it breaks out below, then we will get to see the target of 257 here. So we can see this target through this chart pattern. If you like our article, then do share it with your friends and tell us by commenting which stock I should analyze in the next article.
Please keep in mind that the information we have given you in the article is only for educational purposes, we do not advise on investment. If you want to invest, then invest only after consulting your investment advisor.