EquityPandit’s Outlook for ITC for the week (April 22,2019 – April 26,2019):
BSE: 500857| NSE: ITC| ISIN: INE154A01025 | SECTOR: FMCG
Stock closed the week on positive note gaining+3.52%
Week High: 307.05
Week Low: 294.00
Week Range: 13.05
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for ITC at 300- 302 levels, whereas minor resistance on the upside is capped around 310- 312 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 297- 295 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 316- 318
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 316- 318 on upside & 297- 295 on downside.