ICICIBANK Weekly Outlook and Analysis:

For the Week: (March 22,2021 – March 26,2021)

BSE: 532174| NSE: ICICIBANK| ISIN: INE090A01021| SECTOR: BANKS

ICICIBank Share Price : 586.65 (NSE)

ICICIBank closed the Week on Negative Note Losing 4.28%

Weekly High: 612.85

Weekly Low:  570

Weekly Range: 42.85 Points

Weekly Support & Resistance For ICICI Bank:

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 566 levels, Minor resistance on the upside is capped around 609 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 @ 547 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 @ 631

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 631 on upside and 547 on downside.

Present structure shows that ICICI BANK formed a bullish candle on the daily chart in last trading session. For the near term, the zone of 590 has now become immediate resistance for the stocks. No other significant formation was noticed on the chart.