EquityPandit’s Outlook for ITC for the week (September 21, 2015 – September 25, 2015):

ITC:

ITC closed the week on positive note gaining more than 1%.

As we have mentioned last week that resistance for the stock lies in the zone of 315 to 320. If the stock manages to close above the levels of 320 the stock can move to the levels of 325 to 330 where 200 and 500 Daily SMA are lying. The stock manages to hit a high of 328 during the week but could not close above the levels of 320.

Support for the stock lies in the zone of 305 to 310. If the stock breaks below the levels of 305 on closing basis the stock can drift to the levels of sub 300.

Resistance for the stock lies in the zone of 320 to 325. If the stock manages to close above the levels of 325 the stock can move to the levels of 335 to 340 where 200 and 500 Daily SMA are lying.

Broad range for the stock in coming week is seen between 305 to 310 on downside and 330 to 335 on upside.