Breakout in ITC
After consolidating for months and being in a bear run
ITC seems to be showing a clear breakout on the basis on long run and short run too by completing the rounding bottom pattern. Provided that the stock is in overbought zone, a trade can be placed with an entry around levels of 210, a stop at 200 for possible targets of 230-240.
Long term investors may also enter the stock at current levels as the stock has given a breakout and is still cheaper compared to its peers even at these prices.
ITC seems to be showing a clear breakout on the basis on long run and short run too by completing the rounding bottom pattern. Provided that the stock is in overbought zone, a trade can be placed with an entry around levels of 210, a stop at 200 for possible targets of 230-240.
Long term investors may also enter the stock at current levels as the stock has given a breakout and is still cheaper compared to its peers even at these prices.
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