EquityPandit’s Outlook for ITC for the week  (Oct 03, 2017 – Oct 06, 2017) :

ITC:

ITC closed the week on negative note losing around 3.80%.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 271 to 273. Resistance for the stock lies in the zone of 276 to 278 where 200 daily moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 281 to 283. During the week the stock manages to hit a high of 270 and close the week around the levels of 258.

The stock is in strong downtrend and has broken down from the entire major support zone. 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 261 to 263. Resistance for the stock lies in the zone of 267 to 269 from where the stock has broken down from August-2017 lows. If the stock manages to close above these levels then the stock can move to the levels of 276 to 278 where 200 daily moving averages are lying.

Broad range for the stock in coming week is seen between 248 to 250 on downside & 268 to 270 on upside.