ITC can rally towards Rs 320 soon: Badkar

Atul Badkar, Edelweiss Securities is of the view that ITC can rally towards Rs 360 in a couple of weeks.

Badkar told CNBC-TV18, "ITC is a lot more defensive. We have seen a lot of flows entering into the entire fast moving consumer goods (FMCG) and pharmaceutical space. So, within the FMCG space off late although you had an excise duty hike in this Budget, we are again seeing a lot of interest in this name." "Even fundamentally, our analyst is quite bullish on this stock and technically looking at the open interest on charts as well, this looks like Rs 320 is gettable in a couple of weeks. This is not something where you can go in and come out quickly. This is more like a positional bet where you have to stay a little longer," Badkar added.