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ICICI Bank Limited BUY technical
CMP: `286 (As on 03rd Apr 2017) pick
Buy on decline: `286-280
Target Price: `300-320 ICICI Bank Ltd is India's second-largest bank. The
Stop-Loss: `270 service offered by the company includes Deposits,
Loans, Cards, Investments, Insurance and Demat.
ICICI Bank Ltd. In the NRI segment services offered include
Money Transfer, Bank Accounts, Investment,
Home Loans, Insurance, Loans against FD, etc.
It offers a wide range of banking products and
financial services to corporate and retail customers.
It mainly operates in Retail Banking, Wholesale
Banking and Treasury. ICICI Bank also offers wide
range of financial services to corporate and retail
customers through its specialized subsidiaries in
the areas of investment banking, life and non-life
insurance, venture capital and asset management.
It has subsidiaries in UK, Russia and Canada,
branches in US, Singapore, Bahrain, Hong Kong,
Sri Lanka, Qatar and Dubai International Finance
Centre and representative offices in United Arab
Emirates, China, South Africa, Bangladesh,
Thailand, Malaysia and Indonesia.
Technical Outlook:
On the weekly chart, the stock is making a higher
top higher bottom formation which is a sign
of strength. Further on the daily chart we are
observing that 290 is multiple resistances, however
looking at the RSI which is gaining momentum
suggests that the stock has potential to cross the
above mentioned resistance.
Hence we recommend buying in stock at Rs 286
or on a decline up to Rs 280 with a stop loss of
Rs 270 for a target of Rs 300-320 levels.
5 ARIHANT CAPITAL ยก APRIL 2017
