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Nifty outlook and top trading ideas by Vinay Rajani - Technical Analyst, HDFC Securities:
Buy ITC (Rs 277)
Target: Rs 294
Stop loss: Rs 268
Most of the large-cap FMCG stocks hit new all-time highs during the last two months. However, in the case of ITC, it is still placed 25% below from the all-time high of 368 registered in July 2017. Recently ITC has taken support on the long-term trend line on the weekly charts and reversed northward. Stock price reclaimed a level above its 20 and 50 DMA, indicating a bullish trend reversal. We recommend buying ITC for the upside target of
