EquityPandit’s Outlook for ICICI Bank for the week  (Jan 22, 2018 – Jan 25, 2018) : 

ICICI BANK:

ICICI Bank closed the week on positive note gaining around 11.30%.

As we have mentioned last week, that resistance for the stock lies in the zone of 320 to 322 where break down levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 325 to 330 where the stock has formed a top in the month of November-2017. During the week the stock manages to hit a high of 355 and close the week around the levels of 354.

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.

Resistance for the stock lies in the zone of 355 to 360 where the stock has formed a top in the month of January-2015. If the stock manages to close above these levels then the stock can move to the levels of 375 to 380.

Broad range for the stock in the coming week can be 330 – 335 on lower side & 375 – 380 on upper side.