EquityPandit’s Outlook for ICICI Bank for the week  (Nov 06, 2017 – Nov 10, 2017) :

ICICI BANK:

ICICI Bank closed the week on positive note gaining around 4.90%.

As we have mentioned last week, that support for the stock lies in the zone of 290 to 295 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 280 to 284 where break out levels are lying. During the week the stock manages to hit a low of 295 and close the week around the levels of 316.

Support for the stock lies in the zone of 300 to 305 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 290 to 295 where medium term moving averages are lying.

Resistance for the stock lies in the zone of 325 to 330 from where the stock has sold off in the month of March-2015. If the stock manages to close above these levels then the stock can move to the levels of 355 to 360 where life time high for the stock is lying.

Broad range for the stock in the coming week can be 290 – 295 on lower side & 330 – 335 on upper side.