EquityPandit’s Outlook for ICICI Bank for the week  (Feb 19, 2018 – Feb 23, 2018) : 

ICICI BANK:

ICICI Bank closed the week on negative note losing around 1.80%.

As we have mentioned last week, that support for the stock lies in the zone of 315 to 320 from where the stock broke out of December-2017 high and short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 300 to 305 where long term moving averages are lying. During the week the stock manages to hit a low of 317 and close the week around the levels of 321.

Support for the stock lies in the zone of 315 to 320 from where the stock broke out of December-2017 high. If the stock manages to close below these levels then the stock can drift to the levels of 300 to 305 where long term moving averages are lying.

Minor resistance for the stock lies in the zone of 330 to 333. Resistance for the stock lies in the zone of 340 to 345 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 355 to 360.

Broad range for the stock in the coming week can be 300 – 305 on lower side & 350 – 355 on upper side.