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Price and trend forecast of ITC for Tomorrow, Weekly, Monthly

ITC Limited

Symbol: NSE:ITC

ISIN: INE154A01025

492.20

As on 2024-07-23

399.35 (52W Low) 499.70 (52W High)

ITC's Today's Performance

ITC Limited started the day by opening at 466.55 today 2024-07-23. Its shares reached a high of 497.40 and dipped to a low of 466.40 in intraday. When the markets closed, ITC’s stock price settled at ₹492.20 per share. Also check out its key support and resistance levels.

ITC Buy/Sell Targets

Tomorrow, buy ITC when its price reaches ₹ 492.20 with a stop-loss order at ₹ 483.10. You can set the target price as ₹ 501.30 to capture potential gains. This buy position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of ITC for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for ITC

Downside Targets Value in ₹
Tomorrow Down Target 1 504
Tomorrow Down Target 2 516
Tomorrow Down Target 3 535

Important Levels for ITC

Holding Levels Value in ₹
Tomorrow Up Target 1 473
Tomorrow Up Target 2 454
Tomorrow Up Target 3 442
Based on where the stock opens tomorrow, if ITC opens on a positive note, our first target will be ₹504. If Target 1 is achieved, we will aim for Target 2 which is ₹516.

But if ITC falls below the average value of ₹485.33, you can enter a sell side position with target number 1 - ₹473 and second target - ₹454 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of ITC

Looking at ITC, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, ITC has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for ITC is moderate bullish.

Tomorrow's Volume based share price Forecast for ITC

ITC's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is -56%.

Reversal detection for ITC

Predicted trend chart of ITC tomorrow for price forecast
ITC may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹471 in morning tomorrow
Target 1 tomorrow497
Target 2 tomorrow504
Target 3 tomorrow516
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with ITC's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if ITC opens on a positive note, our first target will be ₹504.27. If Target 1 is achieved, we will aim for Target 2 which is ₹516.33.

But if ITC falls below the average value of ₹485.33, you can enter a sell side position with target number 1 - ₹473.27 and second target - ₹454.33

ITC's Weekly Targets
1st Up Target 504.45
2nd Up Target 516.70
1st Down Target 472.90
2nd Down Target 453.60

As the week for ITC ended on bullish sentiments, we can expect further continuation of this sentiment. ITC's initial target will be 504.45 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 472.90 in the upcoming week.

Weekly OHLC Values
Open 474.60
High 497.40
Low 465.85
Close 492.20

Week for ITC started with an open price of 474.60, and the close was at 492.20. ITC reached the highest of 497.40 and dipped lowest up to 465.85 last week. This indicates a bullish sentiment for the week.

ITC full month swing targets
Monthly Up Target 1 536.00
Monthly Up Target 2 548.25
Monthly Down Target 1 441.35
Monthly Down Target 2 390.50

Targets of ₹536.00 can be expected to be reached in the coming month. Once ITC achieved this target, we can aim for the next upside target of ₹548.25.

ITC if fails to hold upside, down targets of ₹441.35 and ₹390.50 can be achieved by end of this month.

For complete three weeks if ITC is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as ITC

Symbol Name Industry
ITC ITC Limited Tobacco
HINDUNILVR Hindustan Unilever Limited Household & Personal Products
DMART Avenue Supermarts Limited Discount Stores
NESTLEIND Nestle India Limited Packaged Foods
VBL Varun Beverages Limited Beverages - Non-Alcoholic

Summary

ITC is expected to reach the target of 504.27 in tomorrow's trading session.

After achieving the initial target in ITC, we will aim for higher targets of 516.33 tomorrow.

However, if ITC starts to trade below ₹485.33, then we will shift our focus to the sell side and aim for down targets of 473.27 and 454.33.