On daily chart, stock of ITC is forming rising wedge pattern. Stock is now trading on the lower trend line of the pattern which may act as a support but if it is broken then stock may further go down to 275-280 levels in short term. Stock is already trading below 20 and 50 DMA but closed just below 100 DMA.
Stock can be sold at CMP or on rise till 295 with stop loss at 300 for the short term target of 275-280.
CMP - 291
