EquityPandit’s Outlook for ICICI Bank for the week  (May 06,2019 – May 10,2019)

ICICI BANK:

ICICI Bank Ltd.

BSE: 532174| NSE: ICICIBANK| ISIN: INE090A01021| SECTOR: BANKS

Stock closed the week on positive note gaining +0.20%

Week High: 407.75

Week Low: 394.60

Week Range: 13.15

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 395- 390 levels, Minor resistance on the upside is capped around 418- 420 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 375- 380 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 435– 440

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the week as 435- 440 on upside and 375- 380 on downside.