EquityPandit’s Outlook for ITC for week (July 20, 2015 – July 24, 2015):

ITC:

ITC closed the week on positive note gaining around 4%.

During the week stock managed to cross over the stiff resistance zone of 318 and also close the week above that levels. As we have mentioned last week that if the stock manages to close above the resistance zone of 318 the stock can move to the levels of 325 and the stock hit the high of 324 during the week.

The stock is approaching towards the strong resistance zone of 325 to 330 levels where 100 Daily SMA and 20 Weekly EMA are lying.

If the stock manages to close above this levels the stock can move to the levels of 340.

Support for the stock lies in the range of 310 to 315 where short term moving averages are positioned.

Broad range for the stock in coming week is seen between 310 to 315 on downside and 330 to 340 on upside.