Buy ITC above Rs 257; target Rs 267: IIFL
IIFL is bullish on ITC and has recommended buy rating on the stock with a target price of Rs 267 in its July 20, 2012 research report.
July 20, 2012 / 13:08 IST
IIFL is bullish on ITC and has recommended buy rating on the stock with a target price of Rs 267 in its July 20, 2012 research report.
“ITC Ltd on the daily has been consolidating in the bullish triangle since 29th of Jul 2012 with prices taking support of 20 DMA. The recent price action in past 6 months indicates that stock has emerged as leader in the volatile market and has been trading near its all time high. The triangle breakout projection indicates near term resistance of Rs 271 which could be tested in the near term. Adding to it , the daily RSI has been sustaining above the bull market support of 55 which supports buying argument in the counter. We recommend buying ITC above Rs 257 with stop loss of Rs 252 for target of Rs 267. (Duration7 days),” says IIFL research report.Institutional holding more than 40% in Indian cos Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.To read the full report click on the attachment 
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