In the Budget excise duty has been increased...despite that ITC has moved higher levels...
Why ITC has not reacted on negative news....(we have posted our report last week itself buy ITC above 336 for a target of 350, Just Buy and forget about Mr.Jaitely's Budget).
As we indicated it has touched 350 without any Hurdle
Reason....
i... Trend is already set for buying..
ii.. Stayed above 336 in advance before budget..
Message is
If Market wants to go up - never bother about negative news
If Market wants to go down - never bother about positive news
Work on Levels instead of news.....
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