EquityPandit’s Outlook for ITC for the week  (May 28, 2018 – June 01, 2018) : 

ITC:

ITC closed the week on negative note losing around 3.50%.

As we have mentioned last week, that support for the stock lies in the zone of 277 to 280 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 268 to 272 from where the stock broke out of March-2018 high and Fibonacci levels are lying. During the week the stock manages to hit a low of 269 and close the week around the levels of 272.

Support for the stock lies in the zone of 268 to 272 from where the stock broke out of March-2018 high and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 258 to 262 from where the stock broke out in the month of April-2018.

Resistance for the stock lies in the zone of 277 to 280 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 290 to 295 where the stock has formed a top in the month of February-2018 and Fibonacci levels are lying.

Broad range for the stock in coming week is seen between 260 to 265 on downside & 280 to 285 on upside.