ITC shares gain 3% as market watches stock price movement

ITC shares witnessed positive investor sentiment on October 25th as the stock price registered gains. According to live market updates, ITC opened trading at Rs. 476.4 per share and later rose to touch an intraday high of Rs. 493.5.

By mid-morning, the scrip had appreciated over 3% to Rs. 490.65 compared to the previous close. Heavy trading volumes of over 5 lakh shares on leading exchanges also highlighted keen interest among market participants.

Technical indicators pointed towards the share maintaining an upward trajectory in the near term. Support levels were seen at Rs. 478.52 and below, while resistance appeared at Rs. 491.77 and higher. Moving averages hinted at a long-term uptrend being intact for ITC.

Key levels to monitor for further price movements included the daily pivot of Rs. 483.13. Options data showedcall options at the Rs. 490 strike seeing heavy open interest. This reinforced optimism surrounding ITC's performance over the remainder of the week's sessions.

The broader market started on a marginally negative note but ITC managed to buck trends. Investors await the company's upcoming quarterly earnings to get further cues on business and revenue growth. Overall market sentiment remains volatile, so traders are advised to closely track price action.