Signals, Powered By EquityPandit
ITC Weekly Outlook and Analysis:
For the Week: (Sept 21,2020 – Sept 25,2020)
BSE: 500857| NSE: ITC| ISIN: INE154A01025 | SECTOR: FMCG
ITC Share Price: 179.10 (NSE)
ITC closed the Week on negative note losing 2.63%
Weekly High: 185.85
Weekly Low: 177.00
Weekly Range: 8.85 points
Weekly Support & Resistance for ITC Limited:
| RESISTANCE 2 | 190 |
| RESISTANCE 1 | 185 |
| SUPPORT 1 | 175 |
| SUPPORT 2 | 171 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 175 Levels, Minor resistance on the upside is capped around 185 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 @ 171 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 @ 190
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the Weekly as 190 on upside and 171 on downside.
On the daily chart we can see that ITC share price is moving in a complex corrective phase. Stock took breakout from symmetrical triangle pattern. As seen on daily chart move below the lower band Bollinger will indicate that negative trend can continue.
