Signals, Powered By EquityPandit
ICICIBANK Weekly Outlook and Analysis:
For the Week: (Aug 31,2020 – Sept 04,2020)
BSE: 532174| NSE: ICICIBANK| ISIN: INE090A01021| SECTOR: BANKS
ICICIBank Share Price : 409.70 (NSE)
ICICIBank closed the Week on positive note gaining 10.38 %
Weekly High: 411.90
Weekly Low: 373.85
Weekly Range: 38.05 Points
Weekly Support & Resistance For ICICI Bank:
| RESISTANCE 2 | 437 |
| RESISTANCE 1 | 423 |
| SUPPORT 1 | 385 |
| SUPPORT 2 | 360 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 385 levels, Minor resistance on the upside is capped around 423 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 @ 360 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 @ 437
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. . EquityPandit’s Predicts Range for the Weekly as 437 on upside and 360 on downside.
On the daily chart we can see ICICIBANK price took breakout from ascending triangle pattern. Stock comfortably closed above 200 EMA. The trend for stock is clearly bullish .Price can continue to move towards 428 levels.
