Attempting a BUY on the cigarette, FMCG, IT giant : ITC
https://in.tradingview.com/chart/49xJ2TjU/
In the recent days ITC's moves have been really impressive with spike in volumes and the price movement. It is also worthy to mention the fact that the price it is currently trading is ex of the 6rs dividend which was adjsuted in the price on 15th February. I would like to clearly and openly state that right now I am not comfortable with the markets. Selling pressure comes from anywhere when market tends to attempt a slight upmove. Also, US markets have been equally unsupportive and a party pooper.
Despite all the negatives in the markets, in these times, markets are rewarding the underperformers, be it ONGC, COAL INDIA or our stock in focus ITC.
Coming to the trade, here a BUY trade can be attempted in ITC with a bi weekly tenure, where buying range can be 384-385 , SL : 379 and it can be played with a target of 400 ++
The strength with which ITC is breezing through the market is really impressing me given the times where market breadth is so poor and not to forget the attractive valuations.
If you attempt the trade, it is worthy to keep the trade in control as I would again like to iterate, the market texture doesn't look so healthy.
In the recent days ITC's moves have been really impressive with spike in volumes and the price movement. It is also worthy to mention the fact that the price it is currently trading is ex of the 6rs dividend which was adjsuted in the price on 15th February. I would like to clearly and openly state that right now I am not comfortable with the markets. Selling pressure comes from anywhere when market tends to attempt a slight upmove. Also, US markets have been equally unsupportive and a party pooper.
Despite all the negatives in the markets, in these times, markets are rewarding the underperformers, be it ONGC, COAL INDIA or our stock in focus ITC.
Coming to the trade, here a BUY trade can be attempted in ITC with a bi weekly tenure, where buying range can be 384-385 , SL : 379 and it can be played with a target of 400 ++
The strength with which ITC is breezing through the market is really impressing me given the times where market breadth is so poor and not to forget the attractive valuations.
If you attempt the trade, it is worthy to keep the trade in control as I would again like to iterate, the market texture doesn't look so healthy.
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