EquityPandit’s Outlook for ICICI Bank for week (July 13, 2015 – July 17, 2015):
ICICI Bank closed the week on absolutely flat note.
The stock is continuously facing stiff resistance around the zone of 315 to 320.
The stock retraced from the levels of 318 to the levels of 306 where the stock has taken the support around the trend-line positioned around the levels of 305.
Major resistance for the stock lies in the zone of 320 to 325 where 100 and 200 Daily SMA is lying.
Support for the stock lies in the zone of 305 to 310 where short term moving averages are positioned.
If the stock manages to close above the levels of 325 we may see stock moving towards the levels of 340.
A break below the levels of 305 can end the medium term uptrend in the stock.
Broad range for the stock in the coming week can be 300 – 305 on lower side to 325 – 330 on upper side.