ITC Outlook for the Week Sept 28,2020 – Oct 01,2020)


For the Week: Sept 28,2020 – Oct 01,2020)

ITC

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

ITC Share Price: 170.75 (NSE)

ITC closed the Week on negative note losing 4.66%

Weekly High: 180.60

Weekly Low: 166.15

Weekly Range: 14.45 points

Weekly Support & Resistance for ITC Limited:

RESISTANCE 2 188
RESISTANCE 1 180
SUPPORT 1 165
SUPPORT 2 157

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 165 Levels, Minor resistance on the upside is capped around 180 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 @ 157 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 @ 188

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the Weekly as 188 on upside and 157 on downside.

On the daily chart we can see that ITC share price is still moving in a complex corrective phase. Stock took breakout from symmetrical triangle pattern. As seen on daily chart a break below 166 level will drag price towards 160-157 levels.