EquityPandit’s Outlook for ITC for the week (September 14, 2015 – September 18, 2015):

ITC:

ITC closed the week on negative note losing more than 1%.

As we have mentioned last week that the stock is trading around the support zone of 315 where 100 Daily SMA is positioned. If the stock closes below the levels of 315 the stock can drift to the levels of 300 but the stock manages to hit a low of 310 during the week and close the week around the levels of 314.

Resistance for the stock lies in the zone of 315 to 320. If the stock manages to close above the levels of 320 the stock can move to the levels of 325 to 330 where 200 and 500 Daily SMA are lying.

Support for the stock lies in the zone of 305 to 310. If the stock breaks below the levels of 305 on closing basis the stock can drift to the levels of sub 300.

Broad range for the stock in coming week is seen between 305 to 310 on downside and 330 to 335 on upside.