Signals, Powered By EquityPandit
ICICIBANK Weekly Outlook and Analysis:
For the Week: Sept 28,2020 – Oct 01,2020)
BSE: 532174| NSE: ICICIBANK| ISIN: INE090A01021| SECTOR: BANKS
ICICIBank Share Price : 348.65 (NSE)
ICICIBank closed the Week on negative note losing 5.66%
Weekly High: 367.40
Weekly Low: 333.75
Weekly Range: 33.65 Points
Weekly Support & Resistance For ICICI Bank:
| RESISTANCE 2 | 383 |
| RESISTANCE 1 | 366 |
| SUPPORT 1 | 332 |
| SUPPORT 2 | 315 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 332 levels, Minor resistance on the upside is capped around 366 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 315 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 383
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. . EquityPandit’s Predicts Range for the Weekly as 383 on upside and 315 on downside.
As seen on daily chart stock placed below a Channel Pattern. We have witness a sharp recovery in last session .To continue with up move, break above prior 200 EMA and 100 EMA on closing basis is required
