EquityPandit’s Outlook for ICICI Bank for the week  (Feb 4, 2019 – Feb 8, 2019) :

ICICI BANK:

ICICI Bank closed the week on negative note losing around 0.50%.

As we have mentioned last week, that resistance for the stock lies in the zone of 365 to 370 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 375 to 380 where Fibonacci levels are lying. During the week the stock manages to hit a high of 377 and close the week around the levels of 355.

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.

Resistance for the stock lies in the zone of 365 to 370 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 375 to 380 where Fibonacci levels are lying.

Broad range for the stock in the coming week can be 330 – 335 on lower side & 370 – 375 on upper side.