After a prolonged downtrend we are getting a bullish pattern in ITC.

The chart below shows the ITC on the hourly timeframe.

Few points to note here.

  1. Positive divergence on the hourly timeframe
  2. Bullish pattern - Inverted head and shoulders forming on the hourly timeframe
  3. 10 ma crossing 20 ma on the hourly charts.

The stock is also at a daily support level. We could see some rally in the counter in the coming few days.