EquityPandit’s Outlook for ITC for the week  (Aug 21, 2017 – Aug 25, 2017) :

ITC:

ITC closed the week on positive note gaining around 3.80%.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 274 to 275. Resistance for the stock lies in the zone of 280 to 282 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 290 to 292 where Fibonacci level and medium term moving averages are lying. During the week the stock manages to hit a high of 284 and close the week around the levels of 282.

Minor support for the stock lies in the zone of 277 to 278. Support for the stock lies in the zone of 272 to 274 where 200 daily moving averages is lying. If the stock manages to close below these levels then the stock can drift to the levels of 265 to 267 where Fibonacci level and break out levels for the stock are lying.

Resistance for the stock lies in the zone of 280 to 282 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 293 to 295 where Fibonacci level and medium term moving averages are lying.

Broad range for the stock in coming week is seen between 270 to 272 on downside & 293 to 295 on upside.