ITC can rally 30% to Rs 300 levels in the days ahead, charts suggest

The short-to-medium term outlook for the stock will stay highly bullish, as long as ITC defends its 200-DMA, indicates daily chart

ITC hit a seven-month high of Rs 233.30, up 8 per cent on the BSE in intra-day trade on Thursday. The move comes on the expectation of a likely improvement in business outlook. The stock is trading at its highest level since February 2021. It had touched a 52-week high of Rs 239.15 on February 9, 2021. READ ABOUT IT HERE

In past one year, the stock has underperformed the market by gaining 28 per cent, as compared to 50 per cent surged in the S&P BSE Sensex. In past three years, ITC share price dipped 25