ITC Outlook for the Week (Dec 07,2020 – Dec 11,2020)


For the Week: (Dec 07,2020 – Dec 11,2020)

ITC

BSE: 500857| NSE: ITC| ISIN: INE154A01025 | SECTOR: FMCG

ITC Share Price: 198.20 (NSE)

ITC closed the Week on positive note gaining 2.34%

Weekly High: 199.35

Weekly Low: 192.40

Weekly Range: 6.95 points

Weekly Support & Resistance for ITC Limited:

RESISTANCE 2 203
RESISTANCE 1 200
SUPPORT 1 193
SUPPORT 2 189

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 193 Levels, Minor resistance on the upside is capped around 200 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 @ 189 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 @ 203

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 203 on upside and 189 on downside.

On the daily chart we can see that ITC share price are moving above symmetrical triangle pattern on daily chart. Prices closed above 200 EMA support which is a sign of bullishness for the coming session as long as 192 level is intact on downside.