Stocks News

ICICI Bank and ITC stocks to be topmost scrips for short-run

As the Finance Minister Nirmala Sitharaman stayed true to her words, the market too had revived up.

The budget day has witnessed the biggest gains in the Indian market. Many banking stocks progressed with a fresh high.

However, as the market has advanced there are two topmost stocks which can be utilized for the short-run.

In the wake of this, the first pick is buying the stocks of Indian Tobacco Company or ITC. It had been one of the most preferable shares of the retail investors.

Although it didn’t meet the expectations since last four years, but now this scrip seems to perform better in the new session.

We can see a very good price-volume breakout from multiple resistance levels on the daily charts.

Also, the monthly time frame pattern of 1-2-3 is clearly reflecting as per the charts.

Investors can buy this stock on a decline in the range of Rs 228 – 225 for the target of Rs 250 in the nearby session.

The stock is currently available at a stoploss of Rs 215 at an upside of 7%.

Further, there is also another share that traders can sell. This stock is ICICI Bank share, with target price of Rs 585 and is having a downside of 5%.

One can sell this share on a bounce towards Rs 620 – Rs 624 in the upcoming session.

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