EquityPandit’s Outlook for ICICI Bank for the week  (June 19, 2017 – June 23, 2017) :

ICICI BANK:

ICICI Bank closed the week on negative note losing around 1.70%.

As we have mentioned last week that support for the stock lies in the zone of 312 to 315 where long term Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 305 to 307 from where the stock broke out after consolidation. During the week the stock manages to hit a low of 314 and close the week around the levels of 316.

Support for the stock lies in the zone of 312 to 315 where long term Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 305 to 307 from where the stock broke out after consolidation.

Minor resistance for the stock lies in the zone of 320 to 322. Resistance for the stock lies in the zone of 326 to 328 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 340 to 342 where Fibonacci levels are lying.

Broad range for the stock in the coming week can be 305 – 307 on lower side & 325 – 327 on upper side.