Good Risk Reward Opportunity. The stock is down being ex dividend.
Strong base of multiyear.
ITC having broken out, Cigarette stock are due for upmove. Weaker currency expected to reduce illegal import volumes. Industry well poised to capture consumption growth story and the company is expected to report high single digit to low double digit revenue growth this year.
Technically stock looks sound for a good 1:3 risk reward trade opportunity.
Strong base of multiyear.
ITC having broken out, Cigarette stock are due for upmove. Weaker currency expected to reduce illegal import volumes. Industry well poised to capture consumption growth story and the company is expected to report high single digit to low double digit revenue growth this year.
Technically stock looks sound for a good 1:3 risk reward trade opportunity.
Comment:
booked gains on 75% quantity at more than 3 time RR. rest 25% qty to be exited at new daily low.