ICICI Bank Outlook for the Week (Oct 05,2020 – Oct 09,2020)


For the Week: (Oct 05,2020 – Oct 09,2020)

ICICIBANK

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

ICICIBank Share Price : 369.20 (NSE)

ICICIBank closed the Week on positive note gaining 5.89%

Weekly High: 371.20

Weekly Low: 349.10

Weekly Range: 22.10 Points

Weekly Support & Resistance For ICICI Bank:

RESISTANCE 2 385
RESISTANCE 1 377
SUPPORT 1 355
SUPPORT 2 341

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 355 levels, Minor resistance on the upside is capped around 377 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 @ 341 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 @ 385

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. . EquityPandit’s Predicts Range for the Weekly as 385 on upside and 341 on downside.

As seen on daily chart stock trading above Channel Pattern support line. We have witness a sharp recovery in last session .To continue with up move, break above prior 200 EMA and 100 EMA on closing basis is required