EquityPandit’s Outlook for ITC for the week  (Jan 14, 2019 – Jan 18, 2019) : 

ITC:

ITC closed the week on positive note gaining around 5.00%.

As we have mentioned last week, that resistance for the stock lies in the zone of 284 to 286 where Fibonacci levels 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. During the week the stock manages to hit a high of 296 and close the week around the levels of 295.

Support for the stock lies in the zone of 284 to 286 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 275 to 277 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 290 to 295 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 300 to 305 where Fibonacci levels are lying.

Broad range for the stock in coming week is seen between 280 to 285 on downside & 305 to 310 on upside.