EquityPandit’s Outlook for ICICI Bank for the week  (Feb 18, 2019 – Feb 22, 2019) :

ICICI BANK:

ICICI Bank closed the week on negative note losing around 3.70%.

As we have mentioned last week, that support 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 below these levels then the stock can drift to the levels of 335 to 340 where Fibonacci levels and long term moving averages are lying. During the week the stock manages to hit a low of 336 and close the week around the levels of 342.

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 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.

Broad range for the stock in the coming week can be 325 – 330 on lower side & 360 – 365 on upper side.