Contra Bet on ITC. Will it work?

ITC

I have a detailed analysis on this stock and also know that many investors are frustrated holding this script. It is also clear that demerger is not happening anytime soon so we do not have a comfort for value unlocking from this parameter. But in a contra bet, script has a strong Fundamentals. According to the chart patterns, stock is trading at the lower range of bollinger band. This provides an opportunity to Buy at lower edge (Not trying to fish the bottom). Medium term trend suggests a direct hit of Rs.275 in 3 months. Fundamentals suggest risk reward ratios are favourable at current levels.

The idea shared is only for educational purpose.

Yorum:

level 235 achieved within 6 days. The idea seems to be perfectly working.
Target of 275 is intact.

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