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⭐ Ultra Equity Advice #105 | Buy | Expected Profit 7-9% | Arijit Banerjee

OUR RECOMMENDATION

  Buy    ITC  

CP#244.35
IdeaBUY
Buy Range237 – 243
Target257 – 262
StopLoss*233
Duration15 – 20 Trading Sessions
Potential Returns^7 – 9%
CP#IdeaBuy RangeTargetStopLoss*DurationPotential Returns^
244.35BUY237 – 243257 – 26223315 – 20 Trading Sessions7 – 9%

# CP – closing price on Dec 19, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 251.
^ Potential returns are calculated based on the median of buy range.

COMPANY OVERVIEW

ITC is an Indian conglomerate company operates in FMCG, hotels, paper & packaging, agri business, packaged food and confectionary, Information Technology and personal care. ITC’s have won numerous national and international awards for quality, productivity, safety and environment management systems. The company has few popular brands in it’s portfolio, e.g. Sunfeast, Bingo!, Yumitos, YiPPee!, Candyman, GumOn, Aashirvaad, Classmate, Fiama Di Wills, Vivel, Engage, Wills Lifestyle, John Players, Mangaldeep and others. In Q2FY20 the company has posted Net Profit of Rs.4,119.16 crore as against a net profit of Rs.3,004 crore in the corresponding period last year, registering a growth of 37.12% in the bottom line.

Stock Data
NSE CodeITC
Sectoral IndexNifty 500
52W High310
52W Low234.05
Face Value1
Relative Performance_ITC vs Nifty 500 Index

TECHNICAL OBSERVATIONS (WEEKLY)

  • On the weekly chart, the stock has been trading with it’s upward rising trend line since last many months, and it seems that it could continue with its ongoing move.
  • This support line has a strong base as it was tested earlier multiple times.
  • Buy Dips, Sell High is a trading strategy where one can buy at the support and sell at a higher price.
ITC Technical Analysis - Weekly Chart
ITC Technical Analysis - Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • After hitting the base support, the share has been moving higher high, higher low on the daily chart. This turnaround of the price structure after the last month downfall presents a fresh buying opportunity in the stock.
  • There is a trendline breakout from downward resistance line on daily charts.
  • +DI crossing above 20 and -DI indicates buying momentum and probable further rise.
ITC Technical Analysis - Daily Chart
ITC Technical Analysis - Daily Chart

LIVE UPDATE - POSITION & ACTIVITIES

Position: Long ITC at ₹ 241 | Goodluck Capital by GoodluckCapital on TradingView

Position: Long ITC at ₹ 241 | Goodluck Capital by GoodluckCapital on TradingView

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MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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