EquityPandit’s Outlook for ITC for the week (April 15, 2019 – April 19, 2019):
BSE: 500857| NSE: ITC| ISIN: INE154A01025 | SECTOR: FMCG
Stock closed the week on positive note gaining +3.72%
Week High: 305.60
Week Low: 292.55
Week Range: 2.80
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for ITC at 290-292 levels, whereas minor resistance on the upside is capped around 310- 315 levels.
If stock breaches minor support on the downside and closes below it we may see fresh breakdown and stock may drag towards next major support levels lower side around 290- 285 and if stock breaches minor resistance levels on the upside and closes above it we may see fresh breakout and stock can head towards major resistance levels placed around 320-325
Currently trend for the stock is bullish as stock trading above 200 days exponential moving average. EquityPandit predicts ITC range for the week is seen from 320- 325 on upside & 290- 285 on downside.