ITC shares set for worst returns in 22 years; price targets signal more downside ITC shares are currently in a prolonged downtrend, with the stock nearing its 52-week low of Rs 275, a level last seen on June 4, 2026. This decline marks the worst annual returns for ITC shareholders in at least 22 years, as the stock has fallen 30% this year. The performance is starkly worse than the second-worst year for the company, which occurred in 2008 when the stock dropped 18%, according to Bloomberg data. Analysts and market participants are warning that the downward trajectory is far from over, with technical indicators pointing to further weakness. The stock’s current price of Rs 276.50 represents a significant drop from its previous close of Rs 276.95, reflecting a broader trend of sustained selling pressure. ITC’s shares are trading below all key moving averages, including the 20-day, 50-day, 100-day, and 200-day DMA, which signals a lack of bullish momentum. The Relative Strength Index (RSI) stands at 34.5, indicating that the stock is neither overbought nor oversold, but the low RSI suggests weak buying interest. Technical analysts are pessimistic about the near-term outlook, with many warning that the stock could test critical support levels if it fails to break above key resistance. Virat Jagad, a senior technical research analyst at Bonanza Portfolio, highlighted the deteriorating technical picture. He noted that the stock’s recent breakdown from a descending channel and its failure to hold above the Rs 292 resistance level indicate that sellers remain in control. Jagad warned that as long as the stock remains below Rs 292, the downside risk could extend to Rs 264 and Rs 250.#itc #virat_jagad #choice_broking #hitesh_tailor #bonanza_portfolio
Market Trading Guide: YES Bank and NBCC Highlighted as Top Picks for Monday with 10% Upside Potential Equity markets faced broad-based selling pressure on Friday as weak monsoon forecasts raised concerns about food inflation. The India Meteorological Department (IMD) projected rainfall at 90% of the long-period average (LPA), sparking worries about deficient monsoons and the potential impact on agricultural output. Analysts noted that the likelihood of an El Niño weather pattern further heightened inflation fears. However, downside risks were partially mitigated by falling crude oil prices and easing bond yields. Global markets also saw a rally driven by expectations of a potential diplomatic breakthrough between the U.S. and Iran, which bolstered investor sentiment. Investors are now closely watching domestic triggers, including the Reserve Bank of India (RBI) policy decision and GDP data releases. These developments are expected to provide critical insights into inflation trends and economic momentum. Analysts identified YES Bank and NBCC as stocks with strong short-term bullish momentum and upside potential, suggesting they could be strategic buys for Monday’s trading session. YES Bank was recommended as a buy, with a current market price (CMP) of Rs 23.22, a stop-loss level at Rs 22.5, and a target price of Rs 25. The stock showed a decisive breakout above the key resistance level at Rs 22.02, supported by increased trading volume. This breakout was confirmed by the stock trading above short- and long-term exponential moving averages (EMAs), which were aligning in a bullish pattern. The relative strength index (RSI) rose above 60, indicating accelerating upward momentum toward a descending trendline. NBCC (India) Limited was also flagged as a buy, with a CMP of Rs 100.#india_meteorological_department #reserve_bank_of_india #yes_bank #nbcc #virat_jagad
