EquityPandit’s Outlook for ITC for the week  (Feb 12, 2018 – Feb 16, 2018) : 

ITC:

ITC closed the week on negative note losing around 1.50%.

As we have mentioned last week, that resistance for the stock lies in the zone of 280 to 282 where long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 288 to 290 from where the stock has broken down in the month of August-2017. During the week the stock manages to hit a high of 282 and close the week around the levels of 271.

Support for the stock lies in the zone of 264 to 266 from where the stock has broken out after consolidation and short & medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 258 to 260 where the stock has taken multiple support in the month of December-2017.

Minor resistance for the stock lies in the zone of 274 to 276. Resistance for the stock lies in the zone of 280 to 282 where long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 288 to 290 from where the stock has broken down in the month of August-2017.

Broad range for the stock in coming week is seen between 260 to 262 on downside & 280 to 282 on upside.