EquityPandit’s Outlook for ITC for the week  (July 03, 2017 – July 07, 2017) :

ITC:

ITC closed the week on positive note gaining around 4.10%.

As we have mentioned last week that minor support for the stock lies in the zone of 305 to 307. Support for the stock lies in the zone of 300 to 302 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 292 to 294 from where the stock broke out of April-2017 highs. During the week the stock manages to hit a low of 307 and close the week around the levels of 324.

Minor support for the stock lies in the zone of 318 to 320. Support for the stock lies in the zone of 300 to 302 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 292 to 294 from where the stock broke out of April-2017 highs.

The stock is in strong uptrend and virtually no resistance is visible. Resistance for the stock lies in the zone of 328 to 330.

Broad range for the stock in coming week is seen between 310 to 312 on downside & 332 to 334 on upside.