EquityPandit’s Outlook for ITC for the week  (June 12, 2017 – June 16, 2017) :

ITC:

ITC closed the week on negative note losing around 4.10%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 305 and close the week around the levels of 306.

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.

Minor resistance for the stock lies in the zone of 310 to 312. Resistance for the stock lies in the zone of 320 to 322 where the stock has formed a double top pattern. 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 292 to 295 on downside & 320 to 322 on upside.