EquityPandit’s Outlook for ICICI Bank for the week (April 08, 2019 – April 12, 2019):
ICICI Bank Ltd.
BSE: 532174| NSE: ICICIBANK| ISIN: INE090A01021| SECTOR: BANKS
Stock closed the week on negative note losing -2.09%.
Week High: 398.85
Week Low: 388.50
Week Range: 10.35
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for ICICIBANK at 380- 377 levels, whereas minor resistance on the upside is capped around 405-407levels.
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 355- 360 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 425- 435.
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 425- 435 on upside & 355-360 on downside.