ITC Outlook for the Week (Nov 09,2020 – Nov 13,2020)


For the Week: (Nov 09,2020 – Nov 13,2020)

itc

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

ITC Share Price: 173.95 (NSE)

ITC closed the Week on positive note gaining 5.25%

Weekly High: 177.20

Weekly Low: 164.45

Weekly Range: 12.75 points

Weekly Support & Resistance for ITC Limited:

RESISTANCE 2 184
RESISTANCE 1 179
SUPPORT 1 166
SUPPORT 2 158

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 166 Levels, Minor resistance on the upside is capped around 179 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 @ 158 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 @ 184

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the Weekly as 184 on upside and 158 on downside.

On the daily chart we can see that ITC share price are moving in trend line break out on daily chart. ITC looks to be at crucial juncture but with bullish up move expecting. Move towards 180 levels can be expected on upside.