itc share price forecast may 2013

itc share today tumbled on heavy profit booking and lost more than 5% and closed at 336.on 11 th of this month itc share hit new 52 week high near 355.

itc share on daily chart now slipped below weekly average of 344 and treding towards support of 325 which is month average and 311 is 3 month average and last support on short term view.on chart buy signal was at 297.on indicators rsi is at 80 and overbought while cci si neat +200 and in overbought state.

itc share in last 1 month till yesterday given 23% return still today showing 18%+ and helped nifty/sensex to move above 6000.itc share is outperformer and in upcoming time expect higher levels here.

itc share for month of may 2013,above 315 on closing basis hold long view and expect 350 which is achieved and then 375 which still possible as nifty/sensex tumbling money may move in FMCG safe bets.below 315 traders and short term investors must exit from stock and in that scenario on lower side expect 290-260 levels as deep correction.