EquityPandit’s Outlook for ITC for the week  (July 31, 2017 – Aug 04, 2017) :

ITC:

ITC closed the week on positive note gaining around 0.90%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 295 and close the week around the levels of 292.

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 280 to 282 on downside & 300 to 302 on upside.