EquityPandit’s Outlook for ITC for the week  (Dec 10, 2018 – Dec 14, 2018) : 

ITC:

ITC closed the week on negative note losing around 4.10%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 271 and close the week around the levels of 274.

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 280 to 283 where Fibonacci levels and short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 290 to 295 where Fibonacci levels and medium term moving averages are lying.

Broad range for the stock in coming week is seen between 265 to 268 on downside & 280 to 283 on upside.