ITC Outlook for the Week (Oct 05,2020 – Oct 09,2020)


For the Week: (Oct 05,2020 – Oct 09,2020)

ITC

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

ITC Share Price: 170.85 (NSE)

ITC closed the Week on flat note

Weekly High: 174.80

Weekly Low: 168.70

Weekly Range: 6.10 points

Weekly Support & Resistance for ITC Limited:

RESISTANCE 2 179
RESISTANCE 1 175
SUPPORT 1 167
SUPPORT 2 164

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 167 Levels, Minor resistance on the upside is capped around 175 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 @ 164 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 @ 179

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the Weekly as 179 on upside and 164 on downside.

On the daily chart we can see that ITC share price is still moving in a complex corrective phase. Apart from a black body that emerged on the candles in last session, no other formations were noticed.