ITC TECHNICALS ARE STRONG ON DAILY TIME FRAME. SUPERTREND SIGNAL ADDS CONVICTION AT 198-202 PRICE RANGE i.e. A SUSTAINABLE CLOSING ABOVE 200EMA PRICE BAND WITH GOOD VOLUME.
ITC RALLIED GOOD FROM 198-202 AND STILL TECHNICALS ARE LOOKING GOOD ON DAILY TIME FRAME CHART WITH STRONG VOLUMES. THUS INDICATES HOLD + FRESH BUY WITH A STOP LOSS OF SUPERTREND LINE ON EOD CLOSING BASIS FOR POSITIONAL TRADING.
NIFTYFMCG INDEX HAD A STRONG BREAKOUT ON WEEKLY TIME FRAME IN RECENT WEEK. MONTHLY CHART IS ALSO ON A STRONG NOTE WITH CURRENT MONTH BREAKOUT CANDLE. SO FOR ITC STILL LOT TO GO.
ITC IS STRONG AND ANY SUPPLY/PULLBACK IF SEEN WILL BE EASILY ABSORBS HERE. BUT IF ANY CONSOLIDATION OR CORRECTION HAPPENS THEN IT WOULD BE GOOD BUY ZONE NEAR TO 200EMA PRICE BAND.