EquityPandit’s Outlook for ITC for the week (October 10, 2016 – October 14, 2016) :

ITC:

ITC closed the week on negative note losing around 1.00%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 245 where medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 250 to 252 where short term moving averages are lying. During the week the stock manages to hit a high of 244 and close the week around the levels of 239.

Minor support for the stock lies in the zone of 235. Support for the stock lies in the zone of 228 to 231 where long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 220 to 225.

Minor resistance for the stock lies in the zone of 245 where medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 250 to 252 where short term moving averages are lying.

Broad range for the stock in coming week is seen between 230 to 232 on downside and 245 to 247 on upside.