EquityPandit’s Outlook for ITC for the week  (Feb 18, 2019 – Feb 22, 2019) : 

ITC:

ITC closed the week on positive note gaining around 1.60%.

As we have mentioned last week, that resistance for the stock lies in the zone of 275 to 277 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 280 to 283 where short; medium and long 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 280.

Support for the stock lies in the zone of 275 to 277 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 268 to 270 where Fibonacci levels and low for the month of December-2018 is lying.

Resistance for the stock lies in the zone of 280 to 283 where short; medium and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 286 to 289 where Fibonacci levels are lying.

Broad range for the stock in coming week is seen between 265 to 270 on downside & 290 to 295 on upside.