ICICI Bank Outlook for the Week (Oct 12,2020 – Oct 16,2020)


For the Week: (Oct 12,2020 – Oct 16,2020)

ICICIBANK

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

ICICIBank Share Price : 401.50 (NSE)

ICICIBank closed the Week on positive note gaining 8.75%

Weekly High: 403.50

Weekly Low: 370.75

Weekly Range: 32.75 Points

Weekly Support & Resistance For ICICI Bank:

RESISTANCE 2 425
RESISTANCE 1 414
SUPPORT 1 380
SUPPORT 2 360

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 380 levels, Minor resistance on the upside is capped around 414 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 @ 360 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 @ 425

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. . EquityPandit’s Predicts Range for the Weekly as 425 on upside and 360 on downside.

As seen on daily chart stock trading above Channel Pattern middle band . We have witness a sharp recovery in last few session .In a nutshell, trend for ICICIBANK is positive as its closed above 100EMA and 200 EMA line and can continue to move higher.