ICICIBANK Weekly Outlook and Analysis:
For the Week: (May 3,2021 – May 7,2021)
BSE: 532174| NSE: ICICIBANK| ISIN: INE090A01021| SECTOR: BANKS
ICICIBank Share Price : 600.50(NSE)
ICICIBank closed the Week on Positive Note Gaining 5.36%
Weekly High: 628.45
Weekly Low: 588.00
Weekly Range: 40.45 Points
Weekly Support & Resistance For ICICI Bank:
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 582 levels, Minor resistance on the upside is capped around 622 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 @ 565 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 @ 645.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 645 on upside and 565 on downside.
We can see on daily chart that last week was secularly bullish for the stock. To continue with up move, break above prior day high near 629-630 level is required. This outlook is valid as long as 588 remains protected on downside