ITC :
The stock was earlier covered at 185 for a small trade to 200. Right now the stock seems to have finally gathered strength to cross beyond the huge resistance of 212-216 or after a dip may possibly go above those levels.
Investors can look to buy on dips for a tgt of 240 over the medium term. This defensive may go the same way as HUL, Dabur , Colgate ( all covered earlier )
Essar Oil :The stock gave a false move around 190 and stopped us out some time back. The stock has since been cracking in a downchannel. 61% correction comes to around 110 odd. Downchannel support around 120. Expect to see some supports in this range 120/108. Bounce could come up to 135/145 levels also. Investors/traders can accordingly position themselves.
Watch for volume support in Century textiles.
Best Regards,
Nooresh
