EquityPandit’s Outlook for ITC for week (August 03, 2015 – August 07, 2015):  

ITC:

ITC closed the week on positive note gaining more than 3%.

The stock took support around the levels of 300 during the week where 1000 Daily SMA and 200 Weekly SMA was lying and bounced sharply to end the week at around the levels of 326.

The stock has formed a Bullish engulfing pattern on weekly charts indicating the bullish trend in the stock.

The stock has also formed a Hammer pattern on monthly charts indicating the end of downtrend in the stock.

The stock also manages to close above the levels of 323 where 100 Daily SMA is lying. Above the levels of 327 the stock can move to the levels of 340 to 345.

Support for the stock lies in the zone of 315 to 320 where short term moving averages and 100 Daily SMA are lying.

Broad range for the stock in coming week is seen between 310 to 315 on downside and 335 to 340 on upside.