Avoid fresh investment in ITC: Maia Financial Services

Talking about FMCG, you have seen ITC and Hindustan Unilever coming up with some stray signs of support on odd days. Today they are doing the same. Does it look like that they are going to stay in this trading zone?

Yeah, ITC if we go and check it is again in a trading zone right from 260 to 240 levels. Somehow it is not able to breach on the upside. Ideally, this space does not look very attractive at the moment because it is more consolidating. So neither from the traders’ angle nor the investment angle, it is looking attractive. So people holding this stock should wait because it is not the time to exit. But a fresh investment should not be initiated.