EquityPandit’s Outlook for ITC for the week  (Nov 12, 2018 – Nov 16, 2018) : 

ITC:

ITC closed the week on negative note losing around 2.10%.

As we have mentioned last week, that minor support for the stock lies around 280 to 285. Support for the stock lies in the zone of 270 to 273 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 260 to 265 where low for the month of June-2018 and July-2018 is lying. During the week the stock manages to hit a low of 276 and close the week around the levels of 277.

Support for the stock lies in the zone of 270 to 273 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 260 to 265 where low for the month of June-2018, July-2018 and October-2018 is lying.

Minor resistance for the stock lies around 280 to 285. Resistance for the stock lies in the zone of 290 to 295 where Fibonacci levels and short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 303 to 307 where Fibonacci levels are lying.

Broad range for the stock in coming week is seen between 260 to 265 on downside & 290 to 295 on upside.