ITC is engaged in the marketing of fast moving consumer goods (FMGC). The Company operates through four segments: FMCG; Hotels; Paperboards, Paper and Packaging, and Agri Business. The FMCG segment includes Cigarettes, such as cigarettes and cigars, and Others, such as branded packaged foods businesses Its brands include Aashirvaad, Sunfeast Dark Fantasy, Bingo!, Yumitos, YiPPee!, Candyman, GumOn, Classmate, Fiama Di Wills, Vivel, Superia, Engage, Wills Lifestyle, John Players, Mangaldeep and Aim, among others.
SHORT TERM PERSPECTIVE
|Stop Loss (SL)||Rs.172|
|Time Horizon||2-4 Weeks|
After a long correction, stock is reversing from pervious support level which is placed between 140-145 levels and this level also witness reversal in the past. As of now stock has completed downside target and trying to reverse from bottom. Therefore, continuous increasing in volume at lower level witnesses a reversal from the current levels. So, we are recommending to buy this stock at CMP (Rs. 181.55) with a stop loss of Rs. 172 (Closing Basis) for the target price of Rs. 200. Time frame should be 2-4 weeks.
Source: Capitaline Database, EWAL Research
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more
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