EquityPandit’s Outlook for ITC for the week (January 25, 2016 – January 29, 2016):

ITC:

ITC closed the week on negative note losing around 1.70%.

As we have mentioned last week that resistance for the stock lies in the zone of 325 to 330 where 100 & 200 Daily SMA are lying. If the stock closes above this levels then the stock can move to the levels of 340 where 500 Daily SMA and 100 Weekly SMA are positioned. During the week the stock manages to hit a high of 320 and close the week around the levels of 309.

Stock has closed just below the support zone of 310 where 1000 Daily SMA and 200 Weekly SMA is positioned. If the stock closes below this levels then the stock can drift to the levels of 290 where the stock had made a medium term bottom.

Resistance for the stock lies in the zone of 325 to 330 where 100 & 200 Daily SMA are lying. If the stock closes above this levels then the stock can move to the levels of 340 where 500 Daily SMA and 100 Weekly SMA are positioned.

Broad range for the stock in coming week is seen between 300 to 305 on downside and 325 to 330 on upside.