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

ICICI BANK:

ICICI Bank closed the week on positive note gaining around 1.80%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 298 and close the week around the levels of 311.

Minor support for the stock lies in the zone of 306 to 308. Support for the stock lies in the zone of 298 to 302 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 312 to 314. 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 295 – 300 on lower side & 320 – 325 on upper side.