EquityPandit’s Outlook for ICICI Bank for the week  (Dec 18, 2017 – Dec 22, 2017) :

ICICI BANK:

ICICI Bank closed the week on negative note losing around 2.50%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 300 and close the week around the levels of 303.

Support for the stock lies in the zone of 298 to 302 where break out levels and short & medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 284 to 286 where the stock has opened gap up and long term moving averages are lying.

Minor resistance for the stock lies in the zone of 308 to 310. 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 & 320 – 325 on upper side.