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

ICICI BANK:

ICICI Bank closed the week on positive note gaining around 2.90%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 375 and close the week around the levels of 367.

Support for the stock lies in the zone of 355 to 358 from where the stock broke out of consolidation. If the stock manages to close below these levels then the stock can drift to the levels of 343 to 347 from where the stock broke out of double top formed in the month of August-2018.

Resistance for the stock lies in the zone of 365 to 370 where trend-line joining earlier high 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 345 – 350 on lower side & 380 – 385 on upper side.