EquityPandit’s Outlook for ITC for the week  (Oct 29, 2018 – Nov 02, 2018) : 

ITC:

ITC closed the week on negative note losing around 3.00%.

As we have mentioned last week, that resistance for the stock lies in the zone of 290 to 295 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 300 to 303 where Fibonacci levels and short term moving averages are lying. During the week the stock manages to hit a high of 293 and close the week around the levels of 281.

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.

Resistance for the stock lies in the zone of 290 to 295 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 300 to 303 where Fibonacci levels and short term moving averages are lying.

Broad range for the stock in coming week is seen between 260 to 265 on downside & 300 to 305 on upside.