EquityPandit’s Outlook for ITC for the week (December 07, 2015 – December 11, 2015):

ITC:

ITC closed the week on negative note losing around 2.50%.

As we have mentioned last week that support for the stock lies in the zone of 330 to 335 where 200 & 500 Daily SMA and 100 Weekly SMA are positioned. If the stock closes below this levels then the stock can drift to the levels of 325 where 100 Daily SMA are positioned. During the week the stock manages to hit a low of 335 and close the week around the levels of 336.

Support for the stock lies in the zone of 330 to 335 where 200 & 500 Daily SMA and 100 Weekly SMA are positioned. If the stock closes below this levels then the stock can drift to the levels of 325 where 100 Daily SMA are positioned.

Resistance for the stock lies in the zone of 340 to 345 where 500 Daily SMA and 100 Weekly SMA is lying. If the stock manages to close above this levels then the stock can move to the levels of 360 from where the stock has sold off in previous occasions.

Broad range for the stock in coming week is seen between 330 to 335 on downside and 355 to 360 on upside.