EquityPandit’s Outlook for ICICI Bank for the week  (Mar 05, 2019 – Mar 08, 2019) :

ICICI BANK:

ICICI Bank closed the week on positive note gaining around 0.60%.

As we have mentioned last week, that resistance for the stock lies in the zone of 350 to 355 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 365 to 370 where Fibonacci levels are lying. During the week the stock manages to hit a high of 357 and close the week around the levels of 354.

Minor support for the stock lies in the zone of 348 to 350. Support for the stock lies in the zone of 335 to 340 where Fibonacci levels and long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 325 to 330 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 355 to 360 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 365 to 370 where Fibonacci levels and high for the month of February-2019 are lying.

Broad range for the stock in the coming week can be 335 – 340 on lower side & 365 – 370 on upper side.