🏨 ITDC – Strong Base Formation, Eyeing Breakout

📊 Technical Analysis The stock has been consolidating in a broad rectangle pattern after a strong rally in 2024. Currently approaching the upper resistance zone near ₹800, with multiple attempts in recent months. Elliott Wave count suggests that Wave 2 corrective phase is near completion, positioning the stock for the next impulsive wave. MACD indicates bullish momentum building, with higher lows despite sideways price action. AVWAP support from mid-2024 rally is holding around ₹700, indicating accumulation at lower levels. 💡 Fundamental Strength ITDC is a government-owned hospitality and tourism company, directly benefitting from India’s rising domestic and international travel demand. Strong alignment with government’s tourism initiatives (Bharat Mandapam, G20 impact, spiritual tourism circuits). Balance sheet strength with low leverage and stable cash flows. Upcoming festive and travel season expected to boost occupancy and revenue per room. 📌 Conclusion: A break and close above ₹800 could trigger a sharp move toward ₹950–₹1,000, with strong support placed near ₹700.