EquityPandit’s Outlook for ITC for the week  (May 02, 2017 – May 05, 2017) :

ITC:

ITC closed the week on positive note gaining around 1.30%.

As we have mentioned last week that support for the stock lies in the zone of 270 to 272 from where the stock broke out after consolidation. If the stock manages to close below these levels then the stock can drift to the levels of 266 to 268 from where the stock has broken out of September-2017 highs. During the week the stock manages to hit a low of 271 and close the week around the levels of 278.

Minor support for the stock lies in the zone of 275 to 276. Support for the stock lies in the zone of 270 to 272 from where the stock broke out after consolidation. If the stock manages to close below these levels then the stock can drift to the levels of 266 to 268 from where the stock has broken out of September-2017 highs.

Minor resistance for the stock lies in the zone of 277 to 278. 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 268 to 270 on downside & 286 to 288 on upside.