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ICICI BANK LIMITED CEDEAR EACH REPR 1 ADRICICI BANK LIMITED CEDEAR EACH REPR 1 ADRICICI BANK LIMITED CEDEAR EACH REPR 1 ADR

ICICI BANK LIMITED CEDEAR EACH REPR 1 ADR

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ICICI Bank @ Make or Break LevelICICI Bank closed @ 676.65, almost near its lifetime high on 23/07/2021 ahead of its Q1-2021-22 results. the doji candle shows the indecisiveness but the momentum shows positive bias. While the results are out today and all you must have seen and analyzed them. The results are good, no doubt. But there is a silver lining attached to it. the catch behind the results lies in note 6. Note the trend angle drawn on the price and RSI. they are showing a divergence of 10% (price 7 degress up rsi 3 degrees down). ICICI Bank needs to cross the previous high of 684 decisively to sustain the momentum, if it closes in green on monday i.e. 26.07.2021 then one can go long. But if it does not close in green and closes in red with heavy volumes then it could be a shorting candidate. Though the results are portrayed to be rosy, but the hidden picture can be seen clearly in the note 6 of its results. Whether ICICI Bank improves in its core banking business or just depends on stake sale in its subsidiaries to paint a rosy picture about its profits, only time will tell. Note # 6 says: During 01-2021. the Bank sold equity shares in its subsidiaries and made a net gain of Rs. 3,036.29 crore in standalone financial results and Rs. 2,715.87 crore in consolidated financial results during FY2021: net gain Rs. 3,669.94 crore in standalone financial results and Rs. 3,297.05 crore in consolidated financial results). So, the cons. net profit of Rs. 4747 Cr includes treasury gain of Rs. 3,297 Crores. If we deduct this treasury gain out of total cons. net profit the bank is left with just 1,450 Crores of Cons. Net Profit. vs 4,886 crores in prev quarter ending Mar'2021. A steep fall of 70% QoQ in profit from banking business. ICICI Bank has been boosting up its profits figures since a couple of quarters by stake sales in its subsidiaries. Its reflects weakness in their core banking business. Cheers!
NSE:ICICIBANK
by Highest-Bidder
ICICI BANK LTD - TRIANGLE PATTERN BREAKOUT - LONGHi Guys, Please find our analysis on ICICI Bank Ltd !!!! Trend was in Uptrend and Buildup was formed near the resistance zone of 679 and Pattern was braked out the triangle but resistance of 679 Sounds good. Hence, Based on Q1 Results the script movement will be on Monday. Go Long above 580 SL 649 ( Closes on Daily Basis) Target 746 ( Based on FIB Extn) Regards, Thenali Views Disclaimer: Kindly do your own analysis before executing the trade
NSE:ICICIBANKLong
by Caapinves
Cup and handle pattern in ICICI BankICICI bank is trading at its all time high levels. Formed a very good cup and handle pattern recently and closed at high of the day in last trading session. Cup and handle pattern is a bullish price formation. Four stages of pattern formation as originally described by its founder, William O'Neil, are described below: 1) Previous uptrend taking a stock to a new high, approximately 1-3 months before the cup pattern begins. 2) Retracement of not more than 50% of the previous high creating a rounding bottom, forming a cup. 3) Re-attempt or rebound to its previous high, but subsequent decline, forming a handle part. 4) Finally breaks out again, crossing its previous highs, that are equal to the depth of the cup's low point. ICICI bank chart is fulfilling almost all criteria of a classical cup and handle pattern. It has closed above the previous highest closing. Can be a good swing and positional opportunity. Levels are mentioned in chart.
NSE:ICICIBANKLong
by KetanM
23