This analysis is based on purely technical perspective with a Bullish bias primarily based on Fibonacci levels and support/resistance model.
ITC has been grinding up slowly on Daily since the low of 134.6 from last year and is currently forming a Bullish Ascending Triangle as shown in the chart.
Also the price has tested the broken support zone twice and...
India Tobacco Company Limited .
The Achilles heel of every investor.
Company website- www.itcportal.com
Honest management, low debt , high dividend yield 4% , growing sales yoy
Diversified businesses - Fast Moving Consumer Goods ( fmcg) , Hotels, Paperboards and Packaging, Agri Business and Information Technology.
Aashirvaad - Atta/...
ITC Forecasting for Positional Trade (Trade Duration-7 Days to 20 Days )
(Daily time frame chart used)
If you want to make good returns with less risk then you can enter around 186-190 with stoploss 180 for the Target of 200/208/238
why you should ?
1.Positive RSI divergence (you can refer my previous post of ITC )
2.Change in polarity with Good Volume