EquityPandit’s Outlook for ICICI Bank for the week  (Sep 11, 2017 – Sep 15, 2017) :

ICICI BANK:

ICICI Bank closed the week on negative note losing around 1.90%.

As we have mentioned last week, that resistance for the stock lies in the zone of 302 to 305 where the stock has sold off. If the stock manages to close above these levels then the stock can move to the levels of 310 to 312 where the stock has formed a high in the month of July-2017. During the week the stock manages to hit a high of 300 and close the week around the levels of 292.

Support for the stock lies in the zone of 287 to 289 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 280 to 282 where Fibonacci levels are lying.

Minor resistance for the stock lies in the zone of 295 to 297. Resistance for the stock lies in the zone of 300 to 302 where the stock has sold off. If the stock manages to close above these levels then the stock can move to the levels of 310 to 312 where the stock has formed a high in the month of July-2017.

Broad range for the stock in the coming week can be 280 – 282 on lower side & 300 – 302 on upper side.