Expect 15-20% fall in ITC, HUL: Thakkar

Mitesh Thakkar of Edelweiss Capital is of the view that one could expect 15-20% fall in ITC, HUL.

Thakkar told CNBC-TV18, "The FMCG heavyweights are looking very weak. I was just looking at the monthly charts of ITC and Hindustan Lever, that’s where a good round of weakness can come across and these stocks could fall by 15-20% from current levels also. Reliance have been in a downtrend but the key factor here is that even an outperforming stock its not falling as much as the indices have fallen, so this could keep the stock to continue to fall but it remains an outperformer. So the declines in terms of percentage levels will not be as much."