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ITC Breaks down below 200 dma - What should one do?

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ITC has broken down below 200 dma
How frequent is this event
What should one do

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ITC Breaks down below 200 dma - What should one do?

  1. 1. Deepak Singh 2deepaksingh@gmail.com Stateofthemarket.net Dealing with ITC breakdown below 200 dma
  2. 2. Breaking News: ITC breaks down below 200 dma
  3. 3. How Frequent is this event? Chart Source: Chartalert.com ITC broke down below 200 dma only once since March 2009
  4. 4. What happened on Breakdown in 2011? Chart Source: Chartalert.com
  5. 5. Current Breakdown Chart Source: Chartalert.com
  6. 6. What should one do? • ITC breakdown appears to be more market driven than stock driven • It’s breakdown reflects more on FII’s stance on India. If market sell off continues – then ITC may see more selling and may remain below 200 dma • It’s only if ITC recovers and sustains above 200 dma – one should look to add the stock back in the portfolio else AVOID because ITC is over owned stock and may bear brunt of India specific selling • Right now, ITC is Avoid and should be on wait and watch category.
  7. 7. www.stateofthemarket.net Thank You • Disclaimer - The state of the market presentation is Deepak's perspective on the market. The presentation is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this presentation you agree to make no trade relying in whole or in part on the comments of the writers • Send Feedback to 2deepaksingh@gmail.com

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