EquityPandit’s Outlook for ITC for the week  (July 24, 2017 – July 28, 2017) :

ITC:

ITC closed the week on negative note losing around 14.30%.

As we have mentioned last week that support for the stock lies in the zone of 325 to 330 where break out levels for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 315 to 318 from where the stock broke out of May-2017 highs. During the week the stock manages to hit a low of 276 and close the week around the levels of 289.

Minor support for the stock lies in the zone of 286 to 288. Support for the stock lies in the zone of 280 to 282 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 266 to 268 where Fibonacci levels and 200 Daily moving averages are lying.

Resistance for the stock lies in the zone of 293 to 295 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 300 to 302 where Fibonacci levels are lying.

Broad range for the stock in coming week is seen between 276 to 278 on downside & 300 to 302 on upside.