EquityPandit’s Outlook for ITC for the week  (July 23, 2018 – July 27, 2018) : 

ITC:

ITC closed the week on positive note gaining around 1.30%.

As we have mentioned last week, that minor support for the stock lies around 265 to 268. Support for the stock lies in the zone of 258 to 262 from where the stock broke out in the month of April-2018. If the stock manages to close below these levels then the stock can drift to the levels of 250 to 252 where low for the month of March-2018 and Fibonacci levels are lying. During the week the stock manages to hit a low of 266 and close the week around the levels of 274.

Minor support for the stock lies around 265 to 268. Support for the stock lies in the zone of 258 to 262 from where the stock broke out in the month of April-2018. If the stock manages to close below these levels then the stock can drift to the levels of 250 to 252 where low for the month of March-2018 and Fibonacci levels are lying.

Resistance for the stock lies in the zone of 275 to 278 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 285 to 290 where the stock has formed a double top pattern in the month of May-2018.

Broad range for the stock in coming week is seen between 255 to 260 on downside & 285 to 290 on upside.