ITC waking up from deep sleep ?
A lot of news has been going around ITC. It has been sleeping for a long time but the recent price action towards the upside breakout looks promising to push it to its recent highs. It has gathered itself from a good support level of 200 and given a good breakout from the long trendline on a daily timeframe. A good 6% move in barely 7-8 trading sessions suggests a good up move is forthcoming after a long long consolidation phase. Note that the volume on the breakout candle is way more than the average volume, which pushes ITC's case for a strong buy position.
One pullback and support from the trendline will be a healthy move for it.
Near term, the target is around 218 and if it breaks and closes above 218 then it will not be long that ITC breaks its recent all-time high.
One pullback and support from the trendline will be a healthy move for it.
Near term, the target is around 218 and if it breaks and closes above 218 then it will not be long that ITC breaks its recent all-time high.
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