ITC Outlook for the Week (Dec 28,2020 – Jan 01,2021)


For the Week: (Dec 28,2020 – Jan 01,2021)

ITC

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

ITC Share Price: 208.60 (NSE)

ITC closed the Week on negative note losing 2.75%

Weekly High: 214.70

Weekly Low: 196.90

Weekly Range: 17.80 points

Weekly Support & Resistance for ITC Limited:

RESISTANCE 2 225
RESISTANCE 1 217
SUPPORT 1 199
SUPPORT 2 190

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 199 Levels, Minor resistance on the upside is capped around 217 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 @ 190 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 @ 225

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 225 on upside and 190 on downside.

On the daily chart we can see that ITC share price seems to be sideways to positive. Close above 209-210 levels will prices higher towards 216 levels as long as 203 stays protected on lower side.