EquityPandit’s Outlook for ICICI Bank for the week  (Feb 05, 2018 – Feb 09, 2018) : 

ICICI BANK:

ICICI Bank closed the week on negative note losing around 7.20%.

As we have mentioned last week, that minor support for the stock lies in the zone of 350 to 352. Support for the stock lies in the zone of 340 to 345 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 330 to 335 from where the stock broke out of November-2017 high. During the week the stock manages to hit a low of 334 and close the week around the levels of 335.

Support for the stock lies in the zone of 330 to 335 from where the stock broke out of November-2017 high. If the stock manages to close below these levels then the stock can drift to the levels of 315 to 320 from where the stock broke out of December-2017 high and medium term moving averages are lying.

Resistance for the stock lies in the zone of 340 to 345 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 355 to 360.

Broad range for the stock in the coming week can be 320 – 325 on lower side & 350 – 355 on upper side.