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.

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SHORT TERM PERSPECTIVE

Company ICICI Bank Ltd.
Recommendation Buy (Rs.409.50)
CMP Rs 409.50
Stop Loss (SL) Rs 390
Target Price Rs 435-Rs.450
Time Horizon 2-4 Weeks

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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.

DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


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