EquityPandit’s Outlook for ITC for the week (March 21, 2016 – March 23, 2016):

ITC:

ITC closed the week on positive note gaining around 0.70%.

As we have mentioned last week that support for the stock lies in the zone of 310 to 315 where short term moving averages are lying. If the stock manages to close below this levels then the stock can drift to the levels of 295 to 300 where the stock had opened a gap up on 01-03-2016. During the week the stock manages to hit a low of 315 and bounce to close the week around the levels of 324.

Support for the stock lies in the zone of 310 to 315 where short term moving averages are lying. If the stock manages to close below this levels then the stock can drift to the levels of 295 to 300 where the stock had opened a gap up on 01-03-2016.

Resistance for the stock lies in the zone of 320 to 325 where 100 & 200 Daily SMA is lying. If the stock manages to close above this levels then the stock can move to the levels of 340 where 500 Daily SMA is lying.

Broad range for the stock in coming week is seen between 310 to 315 on downside and 335 to 340 on upside.