Technical Analyst, Vijay Bhambwani is of the view that one can hold ITC.
Bhambwani told CNBC-TV18, "ITC is a very positive stock in the market and a relative outperformer. I think Rs 182-184 would be the support base for short to medium-term players. Even if the stock falls to Rs 170-175, I would not really get too bothered because the chart pattern suggest that the stock should rally to the Rs 225 congestion zone as and when the markets basically get back into an upward trend again. Once its overcomes that then Rs 245-250 looks like a fair possibility on the upside."
He further added, "Give the stock another 2-3 quarters or may be even four quarters and it could not only test Rs 245-250 but may be even go higher. So from my side it’s a hold at this point in time with a buy on declines.”
Source: Moneycontrol.com
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