Signals, Powered By EquityPandit
ICICIBANK Weekly Outlook and Analysis:
For the Week: (April 05,2021 – April 09,2021)
BSE: 532174| NSE: ICICIBANK| ISIN: INE090A01021| SECTOR: BANKS
ICICIBank Share Price : 594.40 (NSE)
ICICIBank closed the Week on Positive Note Gaining 2.74%
Weekly High: 596.10
Weekly Low: 579
Weekly Range: 17.10 Points
Weekly Support & Resistance For ICICI Bank:
| RESISTANCE 2 | 606 |
| RESISTANCE 1 | 600 |
| SUPPORT 1 | 583 |
| SUPPORT 2 | 573 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 583 levels, Minor resistance on the upside is capped around 600 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 @ 573 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 @ 606
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 606 on upside and 573 on downside.
Present structure shows that Price closed above 161.8% OF Fibonacci support which is a sign of bullishness for the coming session. Move towards 610 levels can be expected on upside. This outlook is valid as long as 580 remains protected on downside.
