High Conviction MTF Pick - ITC Ltd 25th June 2026 by Bajaj Broking Ltd
Buying Range: 286 - 292 Target: 330 Return Opportunity: 14%
Technical Outlook
consolidating near a crucial support zone . This technical setup offers a favorable risk - reward profile, positioning the stock for a pullback in the coming months . The current corrective phase appears to be approaching its final stages, as the stock is nearing both price and time parity with its previous major decline . Between July 2017 and March 2020 , the stock fell from 338 to 124, a decline of 214 points . The ongoing correction has exhibited a comparable magnitude, with the stock declining from 485 to 275 , a fall of 210 points . From a time perspective as well, the current correction closely mirrors the earlier phase, having already extended for approximately 21 months . This alignment in both price and duration suggests that the present corrective phase may be nearing exhaustion .
The stock has major support around 270 - 290 levels being the confluence of:
* 61.8% retracement of the previous major rally 190 to 485
* 200 months EMA placed around 260 , which has historically acted as strong demand area for the stock
* Previous breakout area placed around 260 - 280 levels which is likely to act as support .
The monthly stochastic has also rebounded from oversold territory and has generated a buy signals thus supports positive bias . We expect the stock to head higher towards 330 levels being the confluence of the high of February 2026 and 23 .6% retracement of the entire decline from 485 to 275 .
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