ITC is about to break monthly trendline. RSI looks positive . we can enter if it breaks and retest the line.
Defensives' are in spotlight.
NOTE
1. PHARMA index is about to breakout. ( Due to defensive play)
2. REALITY INDEX has been upside . ( under values stocks are bought and expensive stocks has been sold)
3. Good MONSOON is good for ITC. ( buying due to good results on the way)
4. their has been some sectoral rotation , might be INDEX BALACING. ( ITC is undervalued also weightage is high in nifty index).
All above points show some good traction in ITC buying.
although One should avoid treading but put option selling might be beneficial if bought with hedge.
Defensives' are in spotlight.
NOTE
1. PHARMA index is about to breakout. ( Due to defensive play)
2. REALITY INDEX has been upside . ( under values stocks are bought and expensive stocks has been sold)
3. Good MONSOON is good for ITC. ( buying due to good results on the way)
4. their has been some sectoral rotation , might be INDEX BALACING. ( ITC is undervalued also weightage is high in nifty index).
All above points show some good traction in ITC buying.
although One should avoid treading but put option selling might be beneficial if bought with hedge.