ITC Shareholder - Early Diwali Gift?

JC Parets
September 22, 2021

Last week, something magical happened.

Something that hasn't happened in a long time!

ITC was up by 6.83%.

If you've invested in this stock, then you know that such a move in ITC is not that common. And more often than not, the follow-through move is generally absent.

But what do we have this week?

As the current data suggests, we may finally get to see a breakout in ITC if all goes well. The 'if all goes well' part is very important here.

If you've been invested in this stock, then you, my friend, have a heightened sense of patience. You were either born with it, or ITC taught you that. And it may be time for your patience to be rewarded.

We thought this would be a good time to mention the important levels to track in the current market environment.

So what are the levels? Let's take a look!

Click on the chart to zoom in.

The price has been struggling to reach its 2020 highs and has rolled over a couple of times in the past.

The first barrier we're watching most intently is 240. For the price to move out of this base formation, 240 is an important hurdle to overcome. While the above chart is a weekly chart, we're more interested in what it'll look like by the end of the week.

A move above 240 would mean that the next target to track would be 278-280. If that's not an early Diwali gift, I don't know what is!

 

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