This analysis is only for educational purposes, Invest at your own risk!
Using the monthly chart we can locate the lowest support price i.e. between 26-36 INR.
The price may soon rebound an open an amazing long positional position.
The trade can prove to be good for positional traders who are agreeing to lock in at
this price and wait for the price the...
BUY at CMP of 48 .
NO STOPLOSS and keep accumulating if it goes down.
SELL at 100 by next quarter.
(The current PE of this stock is 1.6 as compared to its peers which have 10 and also it has a market share of 10%).
POSITIONAL LONG IN ITC
-STRONG REVERSAL FROM MAJOR SUPPORT LEVEL
-RSI REVERSAL FROM OVERBROUGHT ZONE
-POSITIVE MOMENTUM IN STOCK