EquityPandit’s Outlook for ITC for the week  (Sep 10, 2018 – Sep 14, 2018) : 

ITC:

ITC closed the week on negative note losing around 2.90%.

As we have mentioned last week, that resistance for the stock lies in the zone of 320 to 325 from where the stock has opened gap down and Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 335 to 340 from where the stock has broken down. During the week the stock manages to hit a high of 323 and close the week around the levels of 310.

Support for the stock lies in the zone of 305 to 308 from where the stock broke out after consolidation. If the stock manages to close below these levels then the stock can drift to the levels of 290 to 295 from where the stock opened gap up and Fibonacci levels are lying.

Resistance for the stock lies in the zone of 320 to 325 from where the stock has opened gap down and Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 335 to 340 from where the stock has broken down.

Broad range for the stock in coming week is seen between 290 to 295 on downside & 325 to 330 on upside.