ITC share price: Money-making opportunity now open for stock market investors, say experts
ITC share price is trading in the range of Rs 230 to Rs 265. Investors can look favourably at the ITC stock for a target price of Rs 265 in the mid-term perspective.
ITC share price has risen from 234 to Rs 245 in the last six months, however, if we go by the market experts' views, this stock is expected to give around 12 per cent returns in the short-term to mid-term. They are of the opinion that ITC has strong support at Rs 234 per stock levels while it can hit Rs 260-265, once it sustains above Rs 240 levels. Since the ITC stock price has sustained above Rs 240 in recent trading sessions, experts are of the opinion that they can buy the IT counter for the target of Rs 265.
Speaking on the ITC share price outlook, Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "ITC share price is trading in the range of Rs 230 to Rs 265 and since it is trading at its bottom level, one can buy the ITC shares for the target of Rs 260-265 in mid-term perspective." However, Singre strongly recommended stock market investors to maintain the stop loss at Rs 225 and suggested share market investors to further add if the ITC shares go down from current Rs 241 per stock levels to Rs 230-234 per stock levels."
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Talking about the immediate short-term targets of the ITC share price, Sumeet Bagadia, Executive Director at Choice Broking said, "ITC share price is quite promising in the next two to three days and it can hit Rs 250 per stock levels in two to three days. I would recommend share market investors to buy ITC shares at the current market price for the target of Rs 250 maintaining stop loss below Rs 234." Bagadia said that one should book profit at Rs 250 levels and once it comes down again at Rs 235 levels, one should again buy the counter for a long mid-term range of around 12 per cent upside gains.
ITC Limited is an Indian multinational conglomerate company, which employs over 3 lakh people at more than 60 locations in India. It's a part of the Forbes 2000 list as well.
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