buzzing stocks-ITC Ltd recovery rally targets 250-260

ITC Ltd stock chart ITC Ltd stock is trading at 243 with gain of 2%. ITC is top gainer in nifty 50 and in F&O segment. ITC stock is in downtrend and achieved 234 target on downside. Now stock is recovery rally after taking support at 234 and moving toward major resistance of 250 rupee. Above 250, stock will become bullish and buy for short term traders. Above 250, traders can expect 260 and 275 as target zones. On downside 234 and 224 are support zones for stock. Stock future traders keep long view for targets 250 and then 260 in November series with stoploss below 234. Below 234, stock will sure shot target of 224. Stock on daily chart look oversold and more likely to continue its recovery rally. Stock option traders can ITC 250 call options of November expiry as buy on dips for short term gains. Today we saw it moved from 3.5 low to high near 5 rupees. ITC Ltd weekly chart is weak and stock is in downtrend. Trading at support of 238 and below it next support will be 182 and that will be medium to long term target for stock if downtrend persist.

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Pramod Baviskar

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