ITC share price targets: Stock hits 52-week low for fourth day, time to sell or buy?
ITC share price: In a slow pace correction, ITC stock gave up the Rs 300 mark on May 27. Since then, the stock hit four fresh 52 week lows.
- Jun 3, 2026,
- Updated Jun 3, 2026 2:29 PM IST
ITC share price: Shares of ITC hit a fresh 52-week low for the fourth straight session on Wednesday as bears tightened their grip on the FMCG stock. In a slow pace correction, ITC stock gave up the Rs 300 mark on May 27. Since then, the stock hit four fresh 52 week lows of Rs 286, Rs 278.40, Rs 277 and Rs 272.25 on May 29, June 1, June 2 and June 3, respectively.
Amid the current losing streak, the FMCG stock took out the 52-week low of Rs 287 level hit on March 30 this year.
The fresh correction in the ITC stock has delivered losses of 24% to investors this year. They have taken a hit of 31% in six months and 34% in a year. ITC stock in a prolonged correction phase has come under sustained selling pressure this year after the government announced a big hike in taxes on cigarettes.
In February 2026, the government overhauled the tobacco taxation structure by replacing the compensation cess with GST while simultaneously raising excise duties on cigarettes. The move led to a significant increase in the overall indirect tax burden on cigarette manufacturers, raising concerns over potential volume growth and profitability.
Accounting for the negative sentiment, ITC stock seems to be in a free fall on the charts and is currently trading below all its key short-term and long-term moving averages, indicating a bearish trend.
Meanwhile, in the current session, ITC shares fell 1.66% to a low of Rs 275.25. Market cap of the firm stood at Rs 3.48 lakh crore. ITC shares set to become oversold on charts, with their RSI standing at 31.1. If it falls below 30 level, a relief rally could lend some respite for investors.
A stock with RSI below 30 is considered trading in the oversold territory.
ITC share price targets
Jigar S Patel from Anand Rathi said, "Support is placed at Rs 280 , while resistance stands at Rs 310. A decisive breakout above Rs 310 could open the door for further upside towards Rs 330. For the short term, the stock is expected to trade within the Rs 280-–Rs 330 range.
Hitesh Tailor, Technical Research Analyst at Choice Broking said, "ITC is currently trading around 288 and continues to witness weakness on the weekly chart, trading below its key 20, 50, 100 and 200 week EMA levels, indicating a negative medium to long-term trend structure. The stock has remained under selling pressure after breaking below the crucial Rs 300 support zone, which earlier acted as a major demand area. The recent price action suggests continuation of the broader corrective trend, with lower highs and lower lows formation visible on the weekly chart. RSI is currently placed near 31, indicating weak momentum and reflecting continued bearish sentiment, though the stock is approaching oversold territory. As long as ITC trades below the Rs 300–305 resistance zone, weakness may persist in the near term. On the downside, the stock could witness further pressure towards the Rs 270–260 zone."
ITC share price: Shares of ITC hit a fresh 52-week low for the fourth straight session on Wednesday as bears tightened their grip on the FMCG stock. In a slow pace correction, ITC stock gave up the Rs 300 mark on May 27. Since then, the stock hit four fresh 52 week lows of Rs 286, Rs 278.40, Rs 277 and Rs 272.25 on May 29, June 1, June 2 and June 3, respectively.
Amid the current losing streak, the FMCG stock took out the 52-week low of Rs 287 level hit on March 30 this year.
The fresh correction in the ITC stock has delivered losses of 24% to investors this year. They have taken a hit of 31% in six months and 34% in a year. ITC stock in a prolonged correction phase has come under sustained selling pressure this year after the government announced a big hike in taxes on cigarettes.
In February 2026, the government overhauled the tobacco taxation structure by replacing the compensation cess with GST while simultaneously raising excise duties on cigarettes. The move led to a significant increase in the overall indirect tax burden on cigarette manufacturers, raising concerns over potential volume growth and profitability.
Accounting for the negative sentiment, ITC stock seems to be in a free fall on the charts and is currently trading below all its key short-term and long-term moving averages, indicating a bearish trend.
Meanwhile, in the current session, ITC shares fell 1.66% to a low of Rs 275.25. Market cap of the firm stood at Rs 3.48 lakh crore. ITC shares set to become oversold on charts, with their RSI standing at 31.1. If it falls below 30 level, a relief rally could lend some respite for investors.
A stock with RSI below 30 is considered trading in the oversold territory.
ITC share price targets
Jigar S Patel from Anand Rathi said, "Support is placed at Rs 280 , while resistance stands at Rs 310. A decisive breakout above Rs 310 could open the door for further upside towards Rs 330. For the short term, the stock is expected to trade within the Rs 280-–Rs 330 range.
Hitesh Tailor, Technical Research Analyst at Choice Broking said, "ITC is currently trading around 288 and continues to witness weakness on the weekly chart, trading below its key 20, 50, 100 and 200 week EMA levels, indicating a negative medium to long-term trend structure. The stock has remained under selling pressure after breaking below the crucial Rs 300 support zone, which earlier acted as a major demand area. The recent price action suggests continuation of the broader corrective trend, with lower highs and lower lows formation visible on the weekly chart. RSI is currently placed near 31, indicating weak momentum and reflecting continued bearish sentiment, though the stock is approaching oversold territory. As long as ITC trades below the Rs 300–305 resistance zone, weakness may persist in the near term. On the downside, the stock could witness further pressure towards the Rs 270–260 zone."