EquityPandit’s Outlook for ICICI Bank for the week  (May 13, 2019 – May 17,2019)

ICICI BANK:

ICICI Bank Ltd.

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

Stock closed the week on negative note losing -4.24%

Week High: 401.85

Week Low: 381.45

Week Range: 20.40

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 370- 368 levels, Minor resistance on the upside is capped around 393– 395 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 @ 355– 358 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 @ 413– 415

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the week as 413– 415 on upside and 355– 358 on downside.