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. |
| 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 |
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
For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan