WHY IS EVERYONE GIVING A BUY RATING FOR ITC ?
Off course the fundamentals are great but with so many firms giving advice and buy call for itc, I thought why so? I studied the chart and saw that itc is trading near 1 year strong resistance trend line. Some days ago, due to high dividend given by itc it crossed this line but again started trading under this trend line. If it crosses this resistance then next we will look at 1/3rd and 50% retracement level as target for upcoming days. I have drawn support and resistance lines for positional traders. As it could make big move at any time so keep your eyes on itc, if it again gets resistancce at this trend line then it could possibly move down to 1/4th retracement level. An intraday chart will be provided soon.
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