ITC, LIC, ICICI Bank: Key resistance and support levels for these buzzing stocks

Domestic stock indices ended settled on Thursday amid the expiry of weekly F&O contracts and the post the outcome of RBI’s money policy review. The 30-share pack BSE Sensex closed at Rs 71,428.43, down 723.57 points, or 1 per cent. The NSE Nifty tumbled 213 points 0.97 per cent, to end the session at 21,717.95.

A few stocks Life Insurance Corporation of India Ltd (LIC), ICICI Bank Ltd and ITC Ltd are likely to remain in focus today. Here is what Avdhut Bagkar, Derivatives & Technical Analyst at StoxBox has to say on these stocks ahead of Friday's trading session:

Life Insurance Corporation of India | Resistance: Rs 1,200 | Support: Rs 840
The price action in LIC has entered a new leg of breakout post hitting a fresh all-time high. The current bias is witnessing bullish momentum in the overbought category of Relative Strength Index, implying a robust trend in play. As long as the support of Rs 960 level is protected, the price may rally towards the Rs 1,200-mark. The medium-term outlook is well placed over the vital support of Rs 840 level.

ITC | Resistance: Rs 430-445 | Support: Rs 380
ITC had seen extensive selling pressure following a breach of the 200-day moving average (DMA), steering a negative bias. While the stock has entered the oversold territory, the price continues to observe selling pressure. The trend appears to be slipping towards the 380 level. On the upside, the hurdles of Rs 430 and Rs 445 dampen the favourable trend.

ICICI Bank | Resistance: Rs 1,050-1,200 | Support: Rs 945
ICICI Bank is trading in a range of Rs 1,050 to Rs 970 levels; a definite outlook may emerge once this range is broken. A bullish breakout could see the price heading to Rs 1,200-mark, while a breakdown could send the price to Rs 900 level. The 200-DMA is positioned at Rs 945, which might provide an immediate support.


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