ITC Outlook for the Week (Sept 04,2020 – Sept 18,2020)


For the Week: (Sept 04,2020 – Sept 18,2020)

ITC

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

ITC Share Price: 183.95 (NSE)

ITC closed the Week on negative note losing 1.47%

Weekly High: 190.55

Weekly Low: 180.80

Weekly Range: 9.75 points

Weekly Support & Resistance for ITC Limited:

RESISTANCE 2 195
RESISTANCE 1 190
SUPPORT 1 180
SUPPORT 2 175

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 180 Levels, Minor resistance on the upside is capped around 190 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 @ 175 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 @ 195

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the Weekly as 195 on upside and 175 on downside.

The present structure shows that stock is moving in the form of symmetrical triangle pattern. A black body appeared on the candle in last session. Further it is important to see whether price reverse or break down from the same .