EquityPandit’s Outlook for ICICI Bank for the week  (Nov 12, 2018 – Nov 16, 2018) : 

ICICI BANK:

ICICI Bank closed the week on positive note gaining around 0.70%.

As we have mentioned last week, that resistance for the stock lies in the zone of 360 to 365 where life time high for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 375 to 380. During the week the stock manages to hit a high of 358 and close the week around the levels of 357.

Support for the stock lies in the zone of 343 to 347 from where the stock broke out of double top formed in the month of August-2018. If the stock manages to close below these levels then the stock can drift to the levels of 320 to 325 where short term moving averages and Fibonacci levels are lying.

Resistance for the stock lies in the zone of 363 to 366 where life time high for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 375 to 380.

Broad range for the stock in the coming week can be 325 – 330 on lower side & 375 – 380 on upper side.