ICICI Bank is a leading private sector bank in India. The Bank’s consolidated total assets stood at Rs. 13.77 trillion at March 31, 2020. ICICI Bank currently has a network of 5,324 branches and 15,688 ATMs across India. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its group companies. The Bank’s business segments are Retail banking, Wholesale banking, Treasury, Other banking, Life insurance, General insurance and Others.
SHORT TERM PERSPECTIVE
|Company||ICICI Bank Ltd.|
|Stop Loss (SL)||Rs 390|
|Target Price||Rs 435-Rs.450|
|Time Horizon||2-4 Weeks|
From last couple of month stock was consolidating a define range between 340-400. As of now stock has given a rectangle breakout on daily chart, stock has been move out from the contraction mode and now we are expecting a expansion mode and this is bullish pattern in nature. Increasing in volume and other oscillator’s are indicating that stock can move higher from current level, so one can initiate a buy position at current level with a stop loss of Rs. 390 for the Target price of Rs.435-450. Time frame should be 2-4 weeks.
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