EquityPandit’s Outlook for ICICI Bank for the week  (Dec 04, 2017 – Dec 08, 2017) :

ICICI BANK:

ICICI Bank closed the week on negative note losing around 3.80%.

As we have mentioned last week, that minor support for the stock lies in the zone of 315 to 318. Support for the stock lies in the zone of 307 to 310 where the stock has taken multiple support. If the stock manages to close below these levels then the stock can drift to the levels of 300 to 305 where break out levels are lying. During the week the stock manages to hit a low of 304 and close the week around the levels of 305.

Support for the stock lies in the zone of 300 to 305 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 293 to 296 where short & medium term moving averages are lying.

Minor resistance for the stock lies in the zone of 310 to 312. Resistance for the stock lies in the zone of 318 to 322 where break down levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 325 to 330 from where the stock has sold off in the month of March-2015.

Broad range for the stock in the coming week can be 285 – 290 on lower side & 318 – 322 on upper side.