ITC is one of India’s foremost private sector companies and a diversified conglomerate with businesses spanning Fast Moving Consumer Goods, Hotels, Paperboards and Packaging, Agri Business and Information Technology. The FMCG segment includes Cigarettes, such as cigarettes and cigars, and Others, such as branded packaged foods businesses (Staples, Snacks and Meals; Dairy and Beverages, and Confections); Apparel; Education and Stationery Products; Personal Care Products; Safety Matches, and Agarbattis.
|Stop Loss (SL)||Rs.200|
|Time Horizon||2-4 Weeks|
Intermediate long term trend is up in this stock. The stock has formed a rounding bottom formation on the daily chart and more over has given a breakout from the flag pattern on the daily chart which is bullish in nature. Increase in volume and positive diversion from oscillator indicate that it can move higher from current levels so one can accumulate the stock between (Rs 213-215) With a stop loss of Rs. 200 on closing basis and respected target seems Rs 235-245. Time frame should be 2-4 weeks.
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