EquityPandit’s Outlook for ITC for the week (September 12, 2016 – September 16, 2016) :

ITC:

ITC closed the week on negative note losing around 1.70%.

As we have mentioned last week that minor support for the stock lies in the zone of 258 to 260. Support for the stock lies in the zone of 248 to 250 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 237 to 240 where medium term moving averages are lying. During the week the stock manages to hit a low of 257 and close the week around the levels of 258.

Support for the stock lies in the zone of 250 to 252 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 237 to 240 where medium term moving averages are lying.

Resistance for the stock lies in the zone of 264 to 266. If the stock manages to close above these levels then the stock can move to the levels of 280 where life time high for the stock is lying.

Broad range for the stock in coming week is seen between 248 to 250 on downside and 270 to 273 on upside.