EquityPandit’s Outlook for ITC for the week (March 20, 2017 – March 24, 2017) :

ITC:

ITC closed the week on positive note gaining around 6.80%.

As we have mentioned last week that resistance for the stock lies in the zone of 266 to 268 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 270 to 272 from where the stock has broken down on intraday basis. During the week the stock manages to hit a high of 289 and close the week around the levels of 281.

Support for the stock lies in the zone of 276 to 278 where the stock has opened gap up. If the stock manages to close below these levels then the stock can drift to the levels of 270 to 272 from where the stock broke out after consolidation.

Resistance for the stock lies in the zone of 282 to 284 where Fibonacci extension is lying. If the stock manages to close above these levels then the stock can move to the levels of 290 to 292 where life time highs for the stock is lying.

Broad range for the stock in coming week is seen between 270 to 272 on downside & 290 to 292 on upside.