Updated: Feb 12
ITC Ltd. is the biggest cigarette and second-largest fast-moving consumer goods company in India with ~78% market share in cigarettes and presence in staples, biscuits, noodles, snacks, chocolate, dairy products and personal care products.
The management reiterated its strategies and focal points. Key highlights-
Legal cigarettes constitute 8% of tobacco consumption and 80% of taxes.
FMCG business includes 25 plus mother brands across foods, personal care and stationery products categories.
Hotels CAPEX would be limited to ongoing expansions; open to mergers and acquisitions in FMCG and Infotech business.
Daily timeframe Analysis
There is clear support and resistance points on the channels starting from April 2020 and stock can be seen trading in a Range.
Another thing to notice on the weekly timeframe is the proper working of Moving average which is properly acting as support and resistance points in the medium term.
Hourly Chart frame Analysis
On hourly timeframe, another channel is working which gives us extra confidence on support around 205-215 zone
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