 "Mehul Kothari recommends buying ITC")
ITC
BUY near Rs 265
Target: Rs 285
Stop Loss: Rs 255
After a strong outperformance and a recent breakout above Rs 265 mark, ITC has been consolidating in a small range. The stock has found support at the placement of the 50-DEMA.
The stock seems to be a safe bet amid the ongoing uncertain times in the markets. Thus, traders can buy the stock near Rs 265 with a stop loss of Rs 255 for an upside target of Rs 285 in coming 2 – 3 weeks.
(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).
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