ITC Weekly Outlook and Analysis:

For the Week: (Aug 03,2020 – Aug 07,2020)

BSE: 500857| NSE: ITC| ISIN: INE154A01025 | SECTOR: FMCG

ITC Ltd SHARE PRICE: 194.15 NSE

Stock closed the week on negative note losing 2.7%

Week High: 200.50

Week Low: 192.50

Week Range: 8 points

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 191 Levels, Minor resistance on the upside is capped around 199 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 188 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 204

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the week as 204 on upside and 188 on downside.

On the daily chart we can see that , ITC is moving in Double Top pattern . Stock took exact support from 0.618% of Fibonacci retracement . Further it is important to see whether price reverse or break down from the same.

ITC Weekly Support & Resistance Levels: