EquityPandit’s Outlook for ITC for the week (May 06,2019 – May 10,2019):
BSE: 500857| NSE: ITC| ISIN: INE154A01025 | SECTOR: FMCG
Stock closed the week on negative note losing -0.93%
Week High: 306.45
Week Low: 301.55
Week Range: 4.90
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 300– 301 levels, Minor resistance on the upside is capped around 309-310 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 296– 295 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 314– 315
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 314- 315 on upside and 296– 295 on downside.