ITC shares are consolidating near ₹423, just below key resistance at ₹427, ahead of Q1 results on August 1. Analyst Vijay Gupta says a close above ₹427 could trigger short-term momentum but not full breakout yet. Despite strong Q1 from ITC Hotels and 54% YoY profit jump, technical indicators remain indecisive. Final dividend of ₹7.85/share will be paid by July-end.