ICICI Bank Outlook for the Week (Dec 07,2020 – Dec 11,2020)


For the Week: (Dec 07,2020 – Dec 11,2020)

icicibank

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

ICICIBank Share Price : 502.05 (NSE)

ICICIBank closed the Week on Positive note gaining 6.06%

Weekly High: 504.00

Weekly Low: 472.20

Weekly Range: 31.80 Points

Weekly Support & Resistance For ICICI Bank:

RESISTANCE 2 524
RESISTANCE 1 513
SUPPORT 1 481
SUPPORT 2 460

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 481 levels, Minor resistance on the upside is capped around 513 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 @ 460 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 @ 524

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. . EquityPandit’s Predicts Range for the Weekly as 524 on upside and 460 on downside.

As seen on daily chart ICICI Bank price had finally given breakout over its consolidation phase. Stock comfortably close above 499 level which is 100% retracement of Fibonacci . In a nutshell, trend for ICICI BANK is positive and can continue to move higher towards 520 Levels.