EquityPandit’s Outlook for ITC for the week (November 09, 2015 – November 13, 2015):

ITC:

ITC closed the week on positive note gaining around 0.90%.

As we have mentioned last week that support for the stock lies in the zone of 330 to 335 where 200 & 500 Daily SMA and 100 Weekly SMA are positioned. If the stock closes below this levels then the stock can drift to the levels of 315 to 320 where trend-line support, 100 Daily SMA and 200 Weekly SMA are positioned. During the week the stock manages to hit a low of 330 and bounce to close the week around the levels of 338.

Support for the stock lies in the zone of 330 to 335 where 200 & 500 Daily SMA and 100 Weekly SMA are positioned. If the stock closes below this levels then the stock can drift to the levels of 315 to 320 where trend-line support, 100 Daily SMA and 200 Weekly SMA are positioned.

Resistance for the stock lies in the zone of 340 to 345 where 500 Daily SMA and 100 Weekly SMA are positioned. If the stock manages to close above this levels then the stock can move to the levels of 360 from where the stock has sold off.

Broad range for the stock in coming week is seen between 325 to 330 on downside and 345 to 350 on upside.