ICICI BANK LTD.Long
ICICI Bank : Good HOLD in current market
- Q3 results was good and stock can open with a bounce tomorrow morning.
- Technically, it is trading in a downward regression channel, and at 200D-EMA (support), and can give a upside breakout. The zone of 1300-1330 can act as a resistance in short term, while downside seems to be capped at 1000 (worst case) with strong support at 1170-1150 level.
- The stock is expensive fundamentally, BUT can remain trading so given improved performance and is one of the safe against market volatility too in short term.
- Technically, it is trading in a downward regression channel, and at 200D-EMA (support), and can give a upside breakout. The zone of 1300-1330 can act as a resistance in short term, while downside seems to be capped at 1000 (worst case) with strong support at 1170-1150 level.
- The stock is expensive fundamentally, BUT can remain trading so given improved performance and is one of the safe against market volatility too in short term.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.