EquityPandit’s Outlook for ICICI Bank for the week  (June 27, 2017 – June 30, 2017) :

ICICI BANK:

ICICI Bank closed the week on positive note gaining around 1.40%.

As we have mentioned last week that support for the stock lies in the zone of 284 to 286 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 278 to 280 from where the stock broke out after consolidation. During the week the stock manages to hit a low of 285 and close the week around the levels of 292.

Support for the stock lies in the zone of 284 to 286 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 278 to 280 from where the stock broke out after consolidation

Minor resistance for the stock lies in the zone of 291 to 293. Resistance for the stock lies in the zone of 298 to 300 where the stock has formed a top in the month of May-2017. If the stock manages to close above these levels then the stock can move to the levels of 308 to 310.

Broad range for the stock in the coming week can be 280 – 282 on lower side & 300 – 302 on upper side.