ITC Nears Key Resistance Ahead Of Q1 Results; SEBI RA Flags ₹427 As Momentum Trigger

The analyst noted market indecision and a lack of strong follow-through despite strong Q1 earnings from ITC Hotels.

ITC shares are consolidating near a key resistance zone ahead of its first-quarter earnings next week.

According to SEBI-registered analyst Vijay Kumar Gupta, the stock is currently hovering around the ₹422–₹423 range, close to the Ichimoku cloud resistance. 

He added that a decisive close above ₹427 could trigger short-term momentum, though he clarified that this would not signal a full breakout yet.

Gupta observed a flat Ichimoku cloud, which he said reflects a sideways market bias. Price action remains near the Kumo resistance, with the Tenkan-sen and Kijun-sen lines tight and converging. 

Recent candles, he noted, indicate market indecision despite a strong performance from ITC Hotels.

He flagged that analysts had previously spotted an inverse head and shoulders pattern, but said it remains to be seen whether it sustains. 

Indicators like relative strength index (RSI) and volume have yet to show strong follow-through, he added.

ITC Hotels’ first quarter (Q1) profit jumped 54% year-on-year, and the company is targeting over 220 hotels by 2030 under an asset-light strategy. 

ITC’s standalone Q1 results are due on August 1. The final dividend of ₹7.85 per share is scheduled to be paid by the end of July.

On Stocktwits, retail sentiment was ‘bullish’ amid ‘normal’ message volume.

ITC’s stock has declined 13.2% so far in 2025.

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