Buy ITC aggressively CMP 492, Target-580 within a month.Technically we see a formation and breakout of Bullish Pennant chart pattern. Also we can confirm its strength from being continuously above all the short term averages even in market downside. ITC is a star performer and our last buy call at the bottom price of 425 worked very well. At higher levels also, surprisingly again it is in buy radar after formation and breakout of a beautiful chart pattern.
Last month Quant Mutual Fund bought ITC shares worth 3,669 crores. This is a big plus news as Quant MF are trending in MF industry due to their good buying decision and consistently outperforming the market benchmark returns. All the big institutions and Brokerage house already gave the target of 550 plus and technically it is confirming the same.
We feel that still there is a lot of value unlocking left in this counter due to their multiple businesses working so well as compared to the peers in the respective industry and still it is just valued majorly on based of Tobacco business. Demerger going ahead is the key to value unlocking and this share can quote even value of 750-800 soon and this is not hypothetical figure but based on real possible valuation in near term as well. So, buy this stock aggressively and you might think that the stock in last month already gone up and you might wait for the dips which might cost you a good opportunity as the big hand may not give you the dips unless there is a big fall in nifty itself. With regards to Nifty, it can give strong positive contribution to nifty movement and support nifty if other nifty stocks correct.
Itclong
Buy ITC cmp 425.50, target minimum 480, SL-399Fundamentally and technically sound, ITC is a perfect buy looking at overall market conditions which is currently on high valuations. At current price, ITC provides a value comfort and technically this stock has done a price and time correction at the same time. Currently we see that chart is forming Inverted Head & Shoulders pattern on a daily time frame which is extremely bullish pattern and indicates the reversal of downfall and bottom formation. Aggressively buy this stock at 425-430 levels and wait patiently for a minimum target of 480, stop loss at 399.
ITC target 600FMCG major ITC currently trading at 424.90 rupees is going to see a major jump in its share price from the current levels to the levels of around 590-600 giving a return of around 60% from the present levels. The analysis is based on cup with handle chart pattern which can be seen in the chart posted with this analysis. the target will be achieved within this year.
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Buy ITC@ 440 avg@360 TGT 740/1105 sl below 260The company has declared the demerger of the Hotel business making the value unlocking. Also the global export in agri business is expected to have a greater boost with the war and flooding situation in middle east will boost the revenue and prices. Above mentioned targets can eb achieved short to medium term.
ITC--@Trendline Break??This stock is now moving in a bearish channel.
now its time to look for bullish view...
if this continue to downwards or break above the bearish channel.on topside we are facing the trendline resistance.
wait until price breaks the trendline and retest for enter long side...
on topside we have bearish gap and a strong fall area to book profits.
look for long in this areas.
Has ITC refueled its tank for the next move up?The ITC stock now has been consolidating for more than 2 weeks at a very strong support/demand zone of INR430-435.
This particular S/R zone is an active zone for the stock since May 2023, acting as support and resistance on several occasions since May.
There was a slight breach of the zone in Oct.end which was successfully reversed by the excess demand hence providing more relevance to this zone.
It is very interesting to witness the stock making a 2-week range right at the demand zone of 430-435 as if it is only waiting for an explosion upwards towards the supply zone of 450-455.
Surely the sellers/bears have tested the buyers/bulls enough and the buyers have bravely stood their ground even bringing the stock back above 430 after the breach, but now its time for the buyers to test the sellers. We shall see if they hold their ground of 450-455 or flee from the battleground.
CMP 437
SL 432
TARGET 457
ITC--Trendline Resistance??This particular stock has been on a prolonged bearish trend, but currently, the price is finding support within well-established historical support zones.
Looking ahead, there's a notable trendline resistance on the upper side. If the price manages to breach this trendline and subsequently provides a retest, it may present a favorable opportunity to consider long positions.
ITC Analysisafter breaking the resisatnce at 455 zone...price moved strongly...
from the last 3 sessions price falls and yesterday it tested the resistance again...
if this bullish continuation or reversal happens...
if reversed on bottom side we have a strong support @455 zone in the form of resistance.
keep track this levels...
ITC--Bearish View ??observations::
After Gapdown opening from zone 449-452 range price fills the gap and falling again...
Now price starts consolidation again..
sell plan::
If price not able to break above the resistance zone,
again falls below 446 resistance, look for sell up to 432 range
and the previous resistance if failed to acts as support price falls more. keep track this levels.
ITC--False Breakout @ATHObservations::
----->> Previously a strong sell of is observed @433 level, price again comes back to this level, if this is a false break out @ resistance sell below the resistance again.
Keep your stop loss @ 436. Look for sell opportunity, if price falls below resistance only.
ITC--Uptrend Resumes or end ??ITC stock observations:
---->trending upwards, broken a strong resistance at 390 (zone previous strong resistance)).
------>after clear trending upwards now price is showing some sort of consolidation, from this level the trend resumes again or reversal may happen.
watch this stock for short position.
As of now ITC trending, upwards can we expect a reversal from here or continue move towards up, we need to wait for further price action to short.
ITC-Breakout from Resistance-Bullish Continue or Reversal.ITC stock is observations:
---->trending upwards, broken a strong resistance at 390 (zone previous strong resistance)).
------>the same zone if acts as support will expect further up move in ITC.
As of now ITC trending, upwards can we expect a reversal from here or continue move towards up, we need to wait for further price action.
ITC viewITC is revered from a very important support zone and currently making a Doji candle formation at the above trend line.
It will be a good move either way whenever it breaks. So, watch out for this stock.
Trade safe. Manage risk. Be profitable.
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PULLBACK GIVEN BY ITC, GOING LONG!!ITC'S bull run, made everyone confused, thats because, ITC not getting any spacefor its bull run. well enough diversified in markets, made ITC to bring a proper focus and management. and that space come after the RUSSIA- UKRAINE WAR. ITC was undervalued from past few years, and barely had given any return. but such an economical factor, affected ITC in a dramatic way, and now it has been stabilized, and returned to its original trend line. in a few time this trend will also be broken, as the volume is pretty great, and ITC even needs to give its corona's impact bull run.
the dark red line has proved the stock's pullback, and now one can go long on it.
ITC - long viewThe stock has crested a good base at the level range of 204 levels.
As you can see the stock has taken support around this area and moved upwards.
It reached a high of 265 levels before crumbling to huge selling pressures.
The stock is trying to make its way back to the top.
I have presented my views on the chart with levels that can help you take your trades.
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