sell ..................

ITC (SELL, between Rs157.5-158.5, Target Rs150): The recent pullback in ITC has fizzled out near its 200 DMA accompanied with bearish formation of Friday’s trading session. A consolidating rising rectangle resembling to more a like of ‘rising wedge’ implies that downtrend in the counter is likely to resume in coming days. Below Rs155 we expect stock to test levels of Rs149, however a pullback attempt towards Rs157.5 may be possible before a final breakdown. We advise going short of ITC Feb Fut in the range of Rs 157.5 -158.5 with stop loss of Rs161.20 for Target of Rs150