ITC India - Here we go again

kunal_finner Updated   
4th base taken out. This is a relentless rally in ITC - now the top performing Nifty 50 stock by a long margin. It reminds me a lot of TESLA in 2020 - is ITC the TESLA of India?
  • Mutual Funds are buying the dip - they know this stock is the top performer and want in
  • We have made 4 bases since the rally started at 300+ in 1 year. Thats unique. Usually the 4th base fails
  • Institutional ownership has increased and the stock has touched the 21 EMA only a few times in 12 months. 50 EMA - hasnt even come close
  • Buying back in at 480 now - lets see how long this party lasts. If it pops below 21 EMA on volumes - am out!

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Order cancelled:
Its finally over - the ITC rally has finished and now leadership will pass onto some other name.

Best advice ever - Cut your position size by half.

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