ITC - Short term/Long term
If ITC falls below 155 it could go to 150 and then a lot below. <-- Short term view.
Long term view...
Personally i am waiting for a sharp fall and an announcement of increase in taxes on cigarettes which could lead to a major fall.
Thats when i would look to buy the stock because ITC will pass on all tax hikes.
Its a debt free company which generates huge free cash flows which will make it a powerhouse going ahead. Plus its also a good dividend paying company.
So will look to buy it at lower levels.
Conclusion
Short Term - Bearish below 155.
Long Term - Bullish on the business and company.
Long term view...
Personally i am waiting for a sharp fall and an announcement of increase in taxes on cigarettes which could lead to a major fall.
Thats when i would look to buy the stock because ITC will pass on all tax hikes.
Its a debt free company which generates huge free cash flows which will make it a powerhouse going ahead. Plus its also a good dividend paying company.
So will look to buy it at lower levels.
Conclusion
Short Term - Bearish below 155.
Long Term - Bullish on the business and company.
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