EquityPandit’s Outlook for ITC for the week (Oct 7, 2019 – Oct 11, 2019):
BSE: 500857| NSE: ITC| ISIN: INE154A01025 | SECTOR: FMCG
Stock closed the week on positive note gaining +1.72%
Week High: 261.60
Week Low: 252.90
Week Range: 8.70
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 248.50 levels, Minor resistance on the upside is capped around 270 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 @ 243 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 @ 283.20
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the week as 283 on upside and 243 on downside.