Signals, Powered By EquityPandit
ITC Outlook Weekly and Analysis:
For the Week: (Feb 01,2021 – Feb 05,2021)
BSE: 500857| NSE: ITC| ISIN: INE154A01025 | SECTOR: FMCG
ITC Share Price: 203.25 (NSE)
ITC closed the Week on Negative Note Losing 6.70%
Weekly High: 212.65
Weekly Low: 202.35
Weekly Range: 10.30 points
Weekly Support & Resistance for ITC Limited:
| RESISTANCE 2 | 215 |
| RESISTANCE 1 | 209 |
| SUPPORT 1 | 199 |
| SUPPORT 2 | 195 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 199 Levels, Minor resistance on the upside is capped around 209 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 @ 195 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 @ 215
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 215 on upside and 195 on downside.
On the daily chart we can see that ITC share price continued to correct and ended with bearish candle. The level of 199 would be crucial support in the near term as any breach of this level will invite incremental weakness
