Monday 3 July 2017

Special Report on Stock ITC LTD

     ITC LTD.:


Yesterday prices of ITC Ltd closes positive above Resistance  at 323.65 Technically in daily chart, overall trend is bullish and in Friday trading session we saw that it break the Resistance level at 319.90. With GST set to roll-out from July 1, there still is uncertainty on rates for tobacco; our calculation suggests a decline assuming additional duty surcharge (ADS) is not charged on top of GST & cess. We, however, model in a neutral outcome which itself would drive double-digit earnings growth after two years. the investor can take long position when the prices retrace to the level of 323 it can further breach to the level of 327-340 and can put the risk part below the level of 316. It can extend its uptrend and reach the price targets of 370  in the upcoming trading session.



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