EquityPandit’s Outlook for ITC for the week  (Nov 13, 2017 – Nov 17, 2017) :

ITC:

ITC closed the week on negative note losing around 1.40%.

As we have mentioned last week, that minor support for the stock lies in the zone of 265 to 267. Support for the stock lies in the zone of 256 to 258 where the stock has taken support in the month of February-2017. If the stock manages to close below these levels then the stock can drift to the levels of 248 to 250. During the week the stock manages to hit a low of 259 and close the week around the levels of 262.

Support for the stock lies in the zone of 256 to 258 where the stock has taken support in the month of February-2017. If the stock manages to close below these levels then the stock can drift to the levels of 248 to 250.

Minor resistance for the stock lies in the zone of 264 to 266. Resistance for the stock lies in the zone of 270 to 272 from where the stock has broken down from April-2017, May-2017 & August-2017 lows and short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 278 to 280 where 200 daily moving averages are lying.

Broad range for the stock in coming week is seen between 255 to 258 on downside & 268 to 270 on upside.