Signals, Powered By EquityPandit
ITC Outlook Weekly and Analysis:
For the Week: (Jan 18,2021 – Jan 22,2021)
BSE: 500857| NSE: ITC| ISIN: INE154A01025 | SECTOR: FMCG
ITC Share Price: 217.85 (NSE)
ITC closed the Week on Positive Note Gaining 8.11%
Weekly High: 218.50
Weekly Low: 201.25
Weekly Range: 17.25points
Weekly Support & Resistance for ITC Limited:
| RESISTANCE 2 | 230 |
| RESISTANCE 1 | 224 |
| SUPPORT 1 | 206 |
| SUPPORT 2 | 195 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 206 Levels, Minor resistance on the upside is capped around 224 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 195 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 230
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 230 on upside and 195 on downside.
On the daily chart we can see that ITC share price are trading above Double Bottom pattern break out. In a nutshell, trend for ITC is positive and can continue to move higher towards 225-226 levels.
