Short ITC with stoploss of Rs 316: Manas Jaiswal

Dec 05, 2013, 06.02 PM IST

Manas Jaiswal of manasjaiswal.com is of the view that one may short ITC at current level with a stoploss of Rs 316.

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Short ITC with stoploss of Rs 316: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com is of the view that one may short ITC at current level with a stoploss of Rs 316.

Like this story, share it with millions of investors on M3

Short ITC with stoploss of Rs 316: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com is of the view that one may short ITC at current level with a stoploss of Rs 316.

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Manas Jaiswal of manasjaiswal.com told CNBC-TV18, "The overall trend in ITC is very much negative. The stock is making lower tops and lower bottoms from the level of Rs 360. Now the stock has broken the 200-day moving average. So possibly the stock can come down to around Rs 290-292. One can go short at current levels with a stoploss of Rs 316."

On December 05, 2013 ITC ended at Rs 308.90, down Rs 4.35, or 1.39 percent.

The company's trailing 12-month (TTM) EPS was at Rs 7.46 per share. (Sep, 2013). The stock's price-to-earnings (P/E) ratio was 41.41. The latest book value of the company is Rs 28.10 per share. At current value, the price-to-book value of the company was 10.99. The dividend yield of the company was 1.7 percent.

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