EquityPandit’s Outlook for ITC for the week  (Apr 16, 2018 – Apr 20, 2018) : 

ITC:

ITC closed the week on absolutely flat note.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 260 to 263. Resistance for the stock lies in the zone of 268 to 270 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 275 to 277 where break down levels are lying. During the week the stock manages to hit a high of 269 and close the week around the levels of 261.

Minor support for the stock lies in the zone of 255 to 257. Support for the stock lies in the zone of 250 to 252 where the stock has formed a bottom in the month of December-2017 and March-2018. If the stock manages to close below these levels then the stock can drift to the levels of 240 to 242 where break out levels are lying.

Minor resistance for the stock lies in the zone of 260 to 263. Resistance for the stock lies in the zone of 268 to 270 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 275 to 277 where break down levels are lying.

Broad range for the stock in coming week is seen between 245 to 250 on downside & 270 to 275 on upside.