Hi Sam...you have pretty much answered your query.
If you are looking at it from an investement angle, yes the growth story is great, the product bouquet awesome, the plans ahead aggresive and it's a leading player of the sector.
The stock split as a great maneuver has placed this blue chip within the reach of the most modest of players.
Yet it's a difficult call on ITC in the short run.
Being in the midst of a strong momentum, it may run higher still regadless of the market, in the short term. The pre split value at the cmp would be rather high I would think. So here the stock split/bonus may turn out to be a move of great marketing finesse indeed, and seeking higher levels on the back of the momentum in the short term is a distinct possibility.
Imagine here the high prices of the pre split rather than 137, and the probability of a further rise decreases significantly. And not to discount the players' savvy, there may be an abrupt slowdown to the upside, again, regardless of the market trend.
This is the reason I have said it's a difficult call.
As an investment, ITC is a clear winner in the mid to long term, no ambiguity whatsoever.
For a trade, we are back to the discussion above.
If I were to suggest an entry, a pullback to 125-129 would be to die for. Strong support here. 137-142 may give resistance. Past this, looking at the past data, the climb from 150-155-160-165-170 is likely to be quite tedious. Past 175, a quick upside to 195 is likely.
As a trade, again in my personal view, the call is difficult. As an investment, it's a great play.
If you track this, do keep me updated please.
Regards.
Do get the caps off please.