EquityPandit’s Outlook for ITC for the week  (Mar 05, 2018 – Mar 09, 2018) : 

ITC:

ITC closed the week on negative note losing around 1.90%.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 270 to 272. Resistance for the stock lies in the zone of 275 to 277 where break down levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 280 to 282 where long term moving averages are lying. During the week the stock manages to hit a high of 270 and close the week around the levels of 264.

Support for the stock lies in the zone of 258 to 260 where the stock has taken multiple support in the month of December-2017 and January-2018. If the stock manages to close below these levels then the stock can drift to the levels of 250 to 252 where the stock has formed a bottom in the month of December-2017.

Minor resistance for the stock lies in the zone of 268 to 270. Resistance for the stock lies in the zone of 275 to 277 where break down levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 280 to 282 where long term moving averages are lying.

Broad range for the stock in coming week is seen between 255 to 258 on downside & 272 to 275 on upside.