Chart check: ITC could jump 40% on fresh breakouts, may hit Rs 400-mark

Though ITC is 40 points short from its all-time high of Rs 315.25-mark, the present scenario on the daily and weekly charts point to a strong up move

Traders and investors were eagerly looking forward to ITC's Q4 results as the stock was one of the few counters which held ground in the current bloodbath in benchmark indices. 

While the BSE Sensex and the Nifty 50 have tumbled 7 per cent in May alone, down almost 15 per cent from their respective historic peak, ITC shares have been hitting fresh 52-weeks high and have gained 5 per cent so far in May.

On Thursday, shares of ITC hit an over three-year high of Rs 279.15, surging 5 per cent on the BSE, after the company reported strong