On September 2, 2024, ITC Ltd’s share price showed a positive trend, closing at ₹511.50, reflecting a daily increase of approximately 1.80%. This upward movement indicates a growing confidence among investors in the company’s performance. As we look ahead to September 3, it’s essential to analyze the key factors that could influence ITC’s share price, including market performance, technical analysis, and potential intraday trading levels.
Main Points
- 1 Live Today: Market Performance and Technical Analysis of ITC share price
- 2 Key Factors Influencing ITC Share Price
- 3 Today Target Prediction and Intraday Trading Levels of ITC share price
- 4 Movement Causes and 52-Week High/Low of ITC share price
- 5 Bearish and Bullish Trends: Finding the Balance
- 6 Important Levels to Watch
As of September 2, ITC’s stock has demonstrated a robust performance over the past few days. The five-day simple moving average stands at ₹498.88, indicating a positive trend. The stock’s recent breakout above its resistance level of ₹512.70 suggests a bullish sentiment among investors. This momentum is crucial as it may set the tone for trading on September 3.
- Quarterly Results Analysis: ITC has consistently reported strong quarterly results. For the quarter ending June 2024, the company posted a profit of ₹4,917.45 crore, showcasing its resilience in a competitive market. Such financial performance often boosts investor sentiment and can lead to increased demand for shares.
- Market Outlook: The overall market sentiment plays a significant role in stock price movements. Currently, the market appears to be optimistic, which could positively impact ITC’s share price. Investors are closely watching economic indicators and global market trends that may influence local stock performance.
- Comparison with Peer Stocks: ITC operates in a competitive landscape, and its performance can be gauged against peers like Godfrey Phillips and VST Industries. Monitoring how these companies perform can provide insights into ITC’s relative strength in the market.
For September 3, analysts predict that ITC’s share price could target levels around ₹515 to ₹520, given the current bullish trend. The intraday trading levels are crucial for day traders looking to capitalize on short-term price movements.
- Support Level: ₹505
- Resistance Level: ₹520
Traders should watch these levels closely. If ITC’s share price breaks above ₹520, it could signal further upward momentum. Conversely, if it falls below ₹505, it may indicate a bearish trend.
ITC’s share price has seen significant fluctuations over the past year. The 52-week high is ₹510.60, achieved on July 24, 2024, while the 52-week low stands at ₹399.30. Understanding these extremes helps investors gauge potential price movements and set realistic expectations for future trading.Several factors contribute to the movement of ITC’s share price:
- Economic Indicators: Changes in interest rates, inflation, and consumer spending can directly impact ITC’s performance.
- Market Sentiment: Investor confidence, driven by news and market trends, can lead to rapid changes in stock prices.
- Corporate Actions: Announcements regarding dividends, stock splits, or new product launches can influence investor perception and stock performance.
Hal Share Price may fall to Rs 4502.71 on September 3, know the opinion of big investors
Bearish and Bullish Trends: Finding the Balance
As of now, ITC’s stock is experiencing a bullish trend, but investors should remain cautious. Market conditions can change rapidly, and it’s essential to stay informed about any news that could impact the stock.
Important Levels to Watch
- Current Price: ₹511.50
- Previous Close: ₹501.90
- 52-Week High: ₹510.60
- 52-Week Low: ₹399.30
Monitoring these levels can help investors make informed decisions about buying or selling ITC shares.
Note: This article is written for educational purposes, Local Haryana does not provide buying and selling of any kind of stock
