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Wednesday, October 27, 2021

Stock Tips: ITC shares touched 52-week record level in intra-day; Invest or sell your holding, know what experts say

Market experts believe that the ITC price may see further upside and it can touch the level of Rs 250.

Stock Tips: Shares of the giant ITC today reached a record high of 52 weeks of Rs 239.40 in intra-day on BSE on 20 September. Today it crossed the record level of Rs 239.15 on 9 February 2021. For the last few days, its price is showing an upward trend and in a week it has strengthened by more than 12 percent. In comparison, the BSE Sensex has gained just 1.8 per cent in the last one week. Market experts believe that the price of this stock can see further increase and it can touch the level of Rs 250. Market experts have advised investors to invest in it. However, some experts have also cautioned.

In October last year, ITC shares touched a 52-week low at Rs 163.40. Since then it has gained 46.5 percent. In the recent GST meeting, no additional tax was imposed on tobacco products and there is a better recovery in FMCG and hotel sector. According to analysts, due to this, the shares of ITC reached a record price of 52 weeks.

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This is the opinion of experts regarding investment

  • According to Milav Vaishnav, Founder and Consulting Technical Analyst, Gemstone Equity Research and Advisory Services, technically ITC is facing resistance at the level of Rs 238-239. Today it broke out but came back after touching the resistance level. If this stock breaks the level of Rs 239, then you can make fresh investments in it.
  • According to Vishal Wagh, Head of Research, Bonanza Portfolio, ITC has created a good support and consolidation zone between 196-220 and is now all set for a new resistance level of Rs 270-280. For this target, investors can invest in it by keeping a stop loss of Rs 216.
  • According to AR Ramachandran, co-founder and trainer of Tips2Trade, technically ITC has touched the level of overbought (overbought), due to which it is now risky to buy. According to Ramachandran, if its prices close above the level of Rs 238, then its next target can be Rs 250. Ramachandran has advised investors to be careful and buy with a stop loss of Rs 225.
    (Article: Surbhi Jain)
    (The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)

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