EquityPandit’s Outlook for ITC for the week  (Oct 23, 2017 – Oct 27, 2017) :

ITC:

ITC closed the week on positive note gaining around 1.40%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 271 and close the week around the levels of 270.

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.

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 258 to 260 on downside & 278 to 280 on upside.