EquityPandit’s Outlook for ICICI Bank for the week (Mar 11, 2019 – Mar 15, 2019) :
ICICI Bank Ltd.
BSE: 532174| NSE: ICICIBANK| ISIN: INE090A01021| SECTOR: BANKS
Stock closed the week on positive note gaining +6.12%.
Week High: 371.60
Week Low: 348.80
Week Range: 22.80
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for ICICIBANK at 355- 360 levels, whereas minor resistance on the upside is capped around 380-385 levels.
If ICICIBANK breaches minor support on the downside and closes below it we may see fresh breakdown and stock may drag towards next major support levels lower side around 335-330 if ICICIBANK breaches minor resistance levels on the upside and closes above it we may see fresh breakout and stock can head towards major resistance levels placed around 420-430
Currently trend for the stock is bullish as stock trading above 200 days exponential moving averages. EquityPandit predicts ICICIBANK range for the week is seen from 420- 430 on upside & 335- 330 on downside.