ITC a definite buy around Rs 280

In a chat with ET Now, Shardul Kulkarni, Sr. Technical Analyst, Angel Broking, talks about the outlook of FMCG stocks.

Do you think FMCG stocks have almost lost ground and it is time for consolidation or do you still see further headroom in stocks like Dabur, ITC and Britannia?

In case of ITC, we are quite bullish because the weekly and monthly charts for the stock are very bullish. On any dip, probably towards Rs 280, ITC would be a definite buy. Another stock that we like is Marico. The stock is moving in a clear higher top higher bottom cycle. So we would be bullish, one can buy Marico above Rs 130-133.