EquityPandit’s Outlook for ITC for the week (July 10, 2017 – July 14, 2017) :
ITC closed the week on positive note gaining around 3.30%.
As we have mentioned last week that the stock is in strong uptrend and virtually no resistance is visible. Resistance for the stock lies in the zone of 328 to 330. During the week the stock manages to hit a high of 355 and close the week around the levels of 334.
Support for the stock lies in the zone of 325 to 330 where break out levels for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 315 to 318 from where the stock broke out of May-2017 highs.
Resistance for the stock lies in the zone of 340 to 343. If the stock manages to close above these levels then the stock can move to the levels of 352 to 355.
Broad range for the stock in coming week is seen between 320 to 322 on downside & 352 to 355 on upside.