EquityPandit’s Outlook for ITC for the week  (May 29, 2017 – June 02, 2017) :

ITC:

ITC closed the week on positive note gaining around 8.00%.

As we have mentioned last week that resistance for the stock lies in the zone of 293 to 295 where life time highs for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 300 to 302. During the week the stock manages to hit a high of 314 and close the week around the levels of 309.

Support for the stock lies in the zone of 300 to 302 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 292 to 294 from where the stock broke out of April-2017 highs.

Resistance for the stock lies in the zone of 314 to 316. If the stock manages to close above these levels then the stock can move to the levels of 321 to 323.

Broad range for the stock in coming week is seen between 300 to 302 on downside & 320 to 322 on upside.