Signals, Powered By EquityPandit
ICICIBANK Weekly Outlook and Analysis:
For the Week: (Aug 17,2020 – Aug 21,2020)
BSE: 532174| NSE: ICICIBANK| ISIN: INE090A01021| SECTOR: BANKS
ICICIBank Share Price : 361.40 (NSE)
ICICIBank closed the Week on positive note gaining 0.95%
Weekly High: 374.30
Weekly Low: 354.20
Weekly Range: 20.10 Points
Weekly Support & Resistance For ICICI Bank:
| RESISTANCE 2 | 383 |
| RESISTANCE 1 | 372 |
| SUPPORT 1 | 352 |
| SUPPORT 2 | 343 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 352 levels, Minor resistance on the upside is capped around 372 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 @ 343 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 343 on downside.
On the daily chart we can see ICICIBANK price are moving in well channelized manner and forming a Head & Shoulder pattern. Stock took exact support from 50 EMA .Move below 354 levels will drag prices towards 340 levels or lower.
