ITC can break out of its consolidation range

ITC has been consolidating in a tight channel for about five weeks and is near a breakout. It is also seen in the last many budgets that traders build short position ahead of the budget day, anticipating more tax on the company and cover their position on the day.
A similar sharp move above 279 is expected to take stock to 288/304.

Buy Price: Above 279
Target: 288/304
SL: 275


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