EquityPandit’s Outlook for ITC for the week  (Dec 03, 2018 – Dec 07, 2018) : 

ITC:

ITC closed the week on positive note gaining around 1.80%.

As we have mentioned last week, that minor resistance for the stock lies around 283 to 285. Resistance for the stock lies in the zone of 290 to 295 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 303 to 307 where Fibonacci levels are lying. During the week the stock manages to hit a high of 290 and close the week around the levels of 286.

Minor support for the stock lies around 280 to 283. Support for the stock lies in the zone of 273 to 275 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 260 to 265 where low for the month of June-2018, July-2018 and October-2018 is lying.

Resistance for the stock lies in the zone of 290 to 295 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 303 to 307 where Fibonacci levels are lying.

Broad range for the stock in coming week is seen between 270 to 275 on downside & 300 to 305 on upside.