ITC Limited
Wednesday, 16 November, 2022
Stock: ITC CMP: 344.15
Current condition:
Stock is in strong uptrend.
It has made all time high of 367.7 on 10/July/2017.
A major resistance level of 375 is present on the upside.
345 is an important level in determining the stock's near-term trend.
Closing above 345 level at least for 2 week is a good indication for buyers, or bulls,
323.6 is the nearest support levels also act as bottom level for the short-term.
Buying strategy:
For high-risk trader :Take a risk of buy @344 with stop loss of 338 for the target of 356.5
Buy = 344
stop loss = 338
Target = 347 , 352 & 356.5
Support levels:
Support-1 | 334 |
Support-2 | 323.6 (bottom formation level) |
Support-3 | 287.5 |
Resistance levels:
Resistance-1 | 361 |
Resistance-2 | 375.5 |
Resistance-3 | 395.65 |
Conclusion:
For Small investor:
For existing share holder hold your current position with the stop loss of 323.6 on closing basis.
No fresh buying at current market price (344) (we will review after sometime).
Buy ITC around 331 for the target of 375 with stop loss of 320
Buy =331
Stop loss = 320 (closing basis)
Target = 345, 375 (time taken around 1 month)
For High-risk investor:
Hold your current position with the stop loss of 302, 283.
Fresh buy position can be initiate.
Background information about ITC Limited:
Introduction:
ITC Limited, formerly known as the Imperial Tobacco Company of India Limited, is a prominent conglomerate in India with diversified business interests spanning various sectors. Established in 1910, ITC has evolved into a leading company with a significant presence in FMCG (Fast Moving Consumer Goods), agri-business, hotels, paperboards, packaging, and information technology.
Founding and Early Years:
Diversified Business Segments:
Commitment to Sustainability:
Corporate Social Responsibility (CSR):
Technological Advancements and Innovation:
Challenges and Future Prospects:
