EquityPandit’s Outlook for ITC for the week  (Jan 21, 2019 – Jan 25, 2019) : 

ITC:

ITC closed the week on negative note losing around 1.30%.

As we have mentioned last week, that resistance for the stock lies in the zone of 290 to 295 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 300 to 305 where Fibonacci levels are lying. During the week the stock manages to hit a high of 297 and close the week around the levels of 291.

Support for the stock lies in the zone of 284 to 286 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 275 to 277 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 293 to 296 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 300 to 305 where Fibonacci levels are lying.

Broad range for the stock in coming week is seen between 280 to 285 on downside & 305 to 310 on upside.