EquityPandit’s Outlook for ITC for the week (March 14, 2017 – March 17, 2017) :

ITC:

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

As we have mentioned last week that resistance for the stock lies in the zone of 266 to 268 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 270 to 272 from where the stock has broken down on intraday basis. During the week the stock manages to hit a high of 266 and close the week around the levels of 263.

Support for the stock lies in the zone of 258 to 260 where the stock has formed a bottom in the month of January-2017 and short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 249 to 251 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 266 to 268 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 270 to 272 from where the stock has broken down on intraday basis.

Broad range for the stock in coming week is seen between 253 to 255 on downside & 268 to 270 on upside.