EquityPandit’s Outlook for ITC for the week (September 07, 2015 – September 11, 2015):
ITC closed the week on negative note losing more than 3%.
As we have mentioned last week that the resistance for the stock lies in the zone of 335 to 340 where 200 and 500 Daily SMA are lying. If the stock manages to close above this levels the stock can move to the levels of 370, the stock manages to hit a high of 328 during the week and sold off to the levels of 317.
The stock is trading around the support zone of 315 where 100 Daily SMA is positioned. If the stock closes below the levels of 315 the stock can drift to the levels of 300 where 1000 Daily SMA is lying.
Resistance for the stock lies in the zone of 325 to 330 where 200 and 500 Daily SMA are lying.
Broad range for the stock in coming week is seen between 300 to 310 on downside and 330 to 340 on upside.