ITC shares gain around 3% in three days

Shares of ITC advanced 2.80% in three trading sessions from a recent closing low of Rs 205.25 on Friday, 12 March 2021.

On the technical front, the stock’s RSI (relative strength index) stood at 48.903. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading between its 50-day moving average (DMA) placed at 213.08 and its 200-day moving average (DMA) placed at 195.69.

ITC’s net profit declined 11.4% to Rs 3587.20 crore on 1.5% increase in net sales to Rs 13,005.88 crore in Q3 FY21 over Q3 FY20.

ITC operates through four segments: FMCG; hotels; paperboards, paper and packaging; and agri business. ITC is the market leader in cigarettes in India.

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