EquityPandit’s Outlook for ITC for the week (February 20, 2017 – February 24, 2017) :

ITC:

ITC closed the week on negative note losing around 1.80%.

As we have mentioned last week that support for the stock lies in the zone of 265 to 267 from where the stock broke out from the highs of September-2016. If the stock manages to close below these levels then the stock can drift to the levels of 255 to 260. During the week the stock manages to hit a low of 264 and close the week around the levels of 268.

Support for the stock lies in the zone of 265 to 267 from where the stock broke out from the highs of September-2016. If the stock manages to close below these levels then the stock can drift to the levels of 255 to 260.

Minor resistance for the stock lies in the zone of 272 to 274. The stock is trading at the life time highs so virtually no resistance is visible. Resistance for the stock lies in the zone of 280 to 282 where Fibonacci extension level is lying.

Broad range for the stock in coming week is seen between 260 to 262 on downside and 276 to 278 on upside.