EquityPandit’s Outlook for ITC for the week  (Sep 11, 2017 – Sep 15, 2017) :

ITC:

ITC closed the week on negative note losing around 4.30%.

As we have mentioned last week, that support for the stock lies in the zone of 280 to 282 where Fibonacci level is lying. If the stock manages to close below these levels then the stock can drift to the levels of 272 to 274 where 200 daily moving averages are lying. During the week the stock manages to hit a low of 270 and close the week around the levels of 272.

Support for the stock lies in the zone of 268 to 270 where the stock has formed a bottom in the month of August-2017. If the stock manages to close below these levels then the stock can drift to the levels of 260 to 262.

Resistance for the stock lies in the zone of 275 to 277 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.

Broad range for the stock in coming week is seen between 260 to 262 on downside & 280 to 282 on upside.