EquityPandit’s Outlook for ICICI Bank for the week  (June 25, 2018 – June 29, 2018) : 

ICICI BANK:

ICICI Bank closed the week on positive note gaining around 6.40%.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 290 to 293. Resistance for the stock lies in the zone of 300 to 303 where break down levels and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 315 to 320 where Fibonacci levels are lying. During the week the stock manages to hit a high of 303 and close the week around the levels of 301.

Minor support for the stock lies in the zone of 290 to 293. Support for the stock lies in the zone of 275 to 280 where the stock has taken multiple support in the month of April-2018. If the stock manages to close below these levels then the stock can drift to the levels of 260 to 265 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 300 to 303 where break down levels and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 315 to 320 where Fibonacci levels are lying.

Broad range for the stock in the coming week can be 275 – 280 on lower side & 315 – 320 on upper side.