NSE – NIFTY 750 | ITC Limited | 04 Feb 2026

 

Overview

This post is part of the NIFTY 750 – Structure Census, a long-term structural review of individual stocks based purely on price behaviour across higher timeframes.
The focus here is structure, regime behaviour, and context, not forecasts or trade setups.

---

Structure Position

ITC exhibits a range → impulse → range structural sequence on the monthly timeframe.

• Long early accumulation phase

• Strong multi-year impulse leg

• Followed by a broad, higher-level consolidation/ranging behaviour

This indicates a mature structural phase, where expansion and digestion alternate.

---

Market Context

• The stock transitioned from a prolonged base into a sustained impulse post-mid 2000s

• Since the impulse peak, price has remained structurally elevated, respecting higher ranges

• Recent declines are contextually corrective, not structurally destructive

The broader structure remains intact unless long-term range support fails.

---

Key Zones & Levels

• Upper range: prior impulse highs (supply interaction zone)

• Mid-range: rotational equilibrium area

• Lower range: long-term structural support zone

(Exact levels intentionally omitted — structure > numbers)

---

Expected Behaviour

• Continued range expansion–contraction cycles within the larger structure

• Volatility compressions likely before any decisive structural resolution

• No confirmed trend reversal at the higher degree as of now

---

Continuation Triggers

• Sustained acceptance above the upper range

• Structural compression resolving with expansion

• Higher-degree impulsive follow-through (to be confirmed)

---

Invalidation / Risk Levels

• Decisive breakdown below long-term range support

• Structural acceptance below prior accumulation base

Until then, the structure remains neutral-to-stable at the higher timeframe.

---

Conclusion

ITC currently sits in a structurally mature, range-dominant phase after a completed long-term impulse.
This makes it suitable for structural observation, not directional assumptions.

This is a structural update, not a directional call.

https://www.tradingview.com/chart/ITC/taJETAuX-NSE-NIFTY-750-ITC-Limited-04-Feb-2026/

#NIFTY750 #ITC #EquityStructure #MarketStructure #LongTermCharts #EWAVESJOURNAL #StructureCensus