EquityPandit’s Outlook for ITC for the week  (Oct 08, 2018 – Oct 12, 2018) : 

ITC:

ITC closed the week on negative note losing around 7.20%.

As we have mentioned last week, that minor resistance for the stock lies around 303 to 306. Resistance for the stock lies in the zone of 310 to 315 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 320 to 325 from where the stock has opened gap down and Fibonacci levels are lying. During the week the stock manages to hit a high of 303 and close the week around the levels of 276.

Support for the stock lies in the zone of 270 to 273 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 260 to 265 where low for the month of June-2018 and July-2018 is lying.

Resistance for the stock lies in the zone of 280 to 285 where Fibonacci levels and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 290 to 295 where Fibonacci levels are lying.

Broad range for the stock in coming week is seen between 260 to 265 on downside & 290 to 295 on upside.