Signals, Powered By EquityPandit
ITC Weekly Outlook and Analysis:
For the Week: (Aug 17,2020 – Aug 21,2020)
BSE: 500857| NSE: ITC| ISIN: INE154A01025 | SECTOR: FMCG
ITC Share Price: 196.40 (NSE)
ITC closed the Week on flat note
Weekly High: 207.70
Weekly Low: 195.50
Weekly Range: 12.20 points
Weekly Support & Resistance for ITC Limited:
| RESISTANCE 2 | 212 |
| RESISTANCE 1 | 205 |
| SUPPORT 1 | 192 |
| SUPPORT 2 | 188 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 192 Levels, Minor resistance on the upside is capped around 205 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 @ 212
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the Weekly as 212 on upside and 188 on downside.
On the daily chart stock is moving in the form of Wedge pattern. Apart from a black body that emerged on the candles, no other formations were noticed. Close below 100 EMA levels will drag price towards 191 level.
