ITC has been maintaining long term uptrend since 2004; forming higher highs and higher lows on monthly chart.
Though it retested major long term averages (100,200 EMA) twice on weekly chart during this phase but always rebounded swiftly; further adding to the confirmation of the trend.
It has been consolidating in a broader range of 300-360 level for past one year or so and currently trading around the upper band (i.e. 360 level) of the same. All indicators are in the favor of fresh upside breakout in near future so one may accumulate between 352 -CMP (356.85) with closing below stop loss of 338 for the target of 398 levels.