EquityPandit’s Outlook for ITC for the week  (June 05, 2017 – June 09, 2017) :

ITC:

ITC closed the week on positive note gaining around 3.30%.

As we have mentioned last week that 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 303 and close the week around the levels of 319.

Minor support for the stock lies in the zone of 312 to 314. 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.

Resistance for the stock lies in the zone of 321 to 323. If the stock manages to close above these levels then the stock can move to the levels of 330 to 332.

Broad range for the stock in coming week is seen between 310 to 312 on downside & 330 to 332 on upside.