HDFC Bank, ICICI Bank, Kotak Mahindra Bank: Key support & resistance levels for these 3 stocks
An analyst from Swastika Investmart said that ICICI Bank is currently on the back foot as the stock is exhibiting a bearish trend with a pattern of consecutive lower lows and lower highs.


- Nov 21, 2024,
- Updated Nov 21, 2024 7:26 AM IST
Indian benchmark indices managed to snap the seven-day losing streak on Tuesday and settled higher. However, the gains were trimmed in the fag-end session ahead of the mid-week market holiday. A sense of caution continued to prevail at Dalal Street. BSE Sensex jumped 239.37 or 0.31 per cent to end the session at 77,578.38. NSE's Nifty50 gained 64.70 points or 0.28 per cent, to settle at 23,518.50 for the day.
Some buzzing banking stocks including HDFC Bank Ltd, ICICI Bank Ltd and Kotak Mahindra Bank Ltd are likely to remain under the spotlight of traders for the session today. Here is what Pravesh Gour, Senior Technical Analyst at Swastika Investmart has to say on these stocks ahead of Thursday's trading session:
Kotak Mahindra Bank has been trading within a range, with the Rs 1,650-1,680 zone acting as a key demand area. On the upside, Rs 1,770 serves as an immediate resistance level. The counter is likely to continue oscillating within this 100-point range in the near term. However, a breakout above Rs 1,770 could trigger short-covering, potentially driving the price toward the Rs 1,800-1,870 zone. Conversely, a breakdown below Rs 1,650 could signal further weakness, with the next support around the Rs 1,600 level.
Indian benchmark indices managed to snap the seven-day losing streak on Tuesday and settled higher. However, the gains were trimmed in the fag-end session ahead of the mid-week market holiday. A sense of caution continued to prevail at Dalal Street. BSE Sensex jumped 239.37 or 0.31 per cent to end the session at 77,578.38. NSE's Nifty50 gained 64.70 points or 0.28 per cent, to settle at 23,518.50 for the day.
Some buzzing banking stocks including HDFC Bank Ltd, ICICI Bank Ltd and Kotak Mahindra Bank Ltd are likely to remain under the spotlight of traders for the session today. Here is what Pravesh Gour, Senior Technical Analyst at Swastika Investmart has to say on these stocks ahead of Thursday's trading session:
Kotak Mahindra Bank has been trading within a range, with the Rs 1,650-1,680 zone acting as a key demand area. On the upside, Rs 1,770 serves as an immediate resistance level. The counter is likely to continue oscillating within this 100-point range in the near term. However, a breakout above Rs 1,770 could trigger short-covering, potentially driving the price toward the Rs 1,800-1,870 zone. Conversely, a breakdown below Rs 1,650 could signal further weakness, with the next support around the Rs 1,600 level.