ICICI Bank Outlook for the Week (Sept 21,2020 – Sept 25,2020)


For the Week: (Sept 21,2020 – Sept 25,2020)

ICICIBANK

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

ICICIBank Share Price : 369.55 (NSE)

ICICI Bank closed the Week on flat note

Weekly High: 376.70

Weekly Low: 359.35

Weekly Range: 17.35 Points

Weekly Support & Resistance For ICICI Bank:

RESISTANCE 2 386
RESISTANCE 1 378
SUPPORT 1 361
SUPPORT 2 352

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 361 levels, Minor resistance on the upside is capped around 378 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 @ 352 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 @ 386

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. . EquityPandit’s Predicts Range for the Weekly as 386 on upside and 352 on downside.

As seen on daily chart stock placed below a Channel Pattern. ICICIBANK share price seems to be sideways to negative. As long as it remains below the 100 EMA line , weakness can be seen towards 355 levels.