ICICIBANK Weekly Outlook and Analysis:
For the Week: (May 10, 2021 – May 14, 2021)
BSE: 532174| NSE: ICICIBANK| ISIN: INE090A01021| SECTOR: BANKS
ICICI Bank Share Price: 607.10(NSE)
ICICI Bank closed the Week on Positive Note Gaining 1.10%
Weekly High: 614.80
Weekly Low: 584.70
Weekly Range: 30.10 Points
Weekly Support & Resistance For ICICI Bank:
Technically on the daily charts, EquityPandit’s Analyst sees: Minor support on the downside lies at 590 levels, Minor resistance on the upside is capped around 619 levels.
If stock breaches minor support on the downside and closes below it we may see a fresh break down and stock can drag towards Major Support on the lower side @ 572 and If stock breaches minor resistance on the upside and closes above it we may see a fresh breakout and stock can head towards Major Resistances Level @ 632.
Stock is trading above 200 days exponential moving average, which suggests the long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 632 on the upside and 572 on the downside.
We can see on the daily chart stock is trading above trend line support. The stock looks to be positive. Move towards 630 levels can be expected on the upside.