ITC - The Vriddhi Strategy Candidate but.....
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The Vriddhi strategy suggests a bullish momentum for ITC, with the Adaptive RSI providing a perspective on the stock's strength. However, the optimism generated by this signal is tempered by the stock's current trading pattern—a falling channel.
A falling channel typically indicates a downtrend consolidation, with the stock moving between two downward-sloping trendlines. The breakout level, set at Rs. 461 could potentially signify a shift in the prevailing trend. If the stock manages to surpass this level, it may resume the bullish momentum for ITC.
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