Stock of the day : ITC Limited For Target Rs.13 - Religare Broking Ltd
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ITC Limited
* We are seeing a mixed trend in the FMCG pack and ITC is trading with corrective bias.
* It witnessed a breakdown from consolidation range which continued for more than two months.
* Stock is trading below key moving averages (20,50,100) on the daily chart suggests bearish tone to continue.
* We thus recommend creating shorts through the Put option.
BUY ITC Limited CMP 7.00; Range 6-7; SL 4; Target 13
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SEBI Registration number is INZ000174330
