EquityPandit’s Outlook for ICICI Bank for the week  (Oct 16, 2017 – Oct 19, 2017) :

ICICI BANK:

ICICI Bank closed the week on negative note losing around 0.20%.

As we have mentioned last week, that support for the stock lies in the zone of 269 to 271 where 200 daily moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 264 to 266 from where the index has broken out of 3 months of consolidation. During the week the stock manages to hit a low of 264 and close the week around the levels of 271.

Support for the stock lies in the zone of 269 to 271 where 200 daily moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 264 to 266 from where the index has broken out of 3 months of consolidation.

Minor resistance for the stock lies in the zone of 275 to 277. Resistance for the stock lies in the zone of 280 to 282 from where the stock has broken down. If the stock manages to close above these levels then the stock can move to the levels of 290 to 292 where short & medium term moving averages are lying.

Broad range for the stock in the coming week can be 260 – 262 on lower side & 280 – 282 on upper side.