ITC Outlook Weekly and Analysis:
For the Week: (June 05, 2021 – June 11, 2021)
BSE: 500857| NSE: ITC| ISIN: INE154A01025 | SECTOR: FMCG
ITC Share Price: 208.75 (NSE)
ITC closed the Week on Negative Note Losing 1.95%
Weekly High: 219.40
Weekly Low: 208
Weekly Range: 11.40 points
Weekly Support & Resistance for ITC Limited:
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 216 Levels, Minor resistance on the upside is capped around 205 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 201 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 223
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 223 on upside and 201 on downside.
On the daily chart we can see that ITC share prices are moving below trend line support. Prices can take support of 100 EMA near 206 levels. In short trend If price moves below this support we can see more weakness towards downside .