Buy the stock at CMP and average it at Rs 278, for the target of Rs 330.
Vinay RajaniITC has reversed north from the long-term upward sloping trendline support on the weekly charts. The stock price has surpassed the
resistance of its 20 and 50 week’s exponential moving average.The stock price has closed at the highest level since 3rd Oct 2018. This indicates breakout from the consolidation which sustained in the last
Considering the technical evidence discussed above, we recommend buying the stock at CMP and average it at Rs 278, for the target of Rs 330, and keeping a stop loss at Rs 268 on a closing basis.Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.