EquityPandit’s Outlook for ICICI Bank for the week  (Jan 29, 2018 – Feb 02, 2018) : 

ICICI BANK:

ICICI Bank closed the week on positive note gaining around 2.00%.

As we have mentioned last week, that 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 345 and close the week around the levels of 361.

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.

Resistance for the stock lies in the zone of 360 to 365. 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 340 – 345 on lower side & 375 – 380 on upper side.