EquityPandit’s Outlook for ITC for the week  (Dec 04, 2017 – Dec 08, 2017) :

ITC:

ITC closed the week on negative note losing around 2.10%.

As we have mentioned last week, that support for the stock lies in the zone of 255 to 258 where the stock has taken support in the month of February-2017. If the stock manages to close below these levels then the stock can drift to the levels of 248 to 250. During the week the stock manages to hit a low of 254 and close the week around the levels of 255.

Support for the stock lies in the zone of 248 to 250 where the stock has taken support in the month of November-2017. If the stock manages to close below these levels then the stock can drift to the levels of 240 to 242 from where the stock has broken out.

Minor resistance for the stock lies in the zone of 257 to 260. Resistance for the stock lies in the zone of 263 to 265 from where the stock has broken down after consolidation and short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 270 to 272 from where the stock has broken down from April-2017, May-2017 & August-2017 lows.

Broad range for the stock in coming week is seen between 240 to 245 on downside & 262 to 265 on upside.