 "Q4, March quarter")
ICICI Bank Ltd (ICICIBANK)
Likely target: Rs 635
Upside potential: 5%
After dipping below the 100-day moving average (DMA), the counter has displayed a firm reversal from Rs 530 to Rs 525 levels. This move needs to scale above 50-DMA, which is currently placed at Rs 600 levels in a decisive manner to embark on a new breakout. If that happens, a rally towards the next resistance of Rs 635 cannot be ruled out. The Relative Strength Index (RSI) has made a formation of Inverse Head and Shoulder, with a breakout above 50 value. If the counter gives
Likely target: Rs 635
Upside potential: 5%
After dipping below the 100-day moving average (DMA), the counter has displayed a firm reversal from Rs 530 to Rs 525 levels. This move needs to scale above 50-DMA, which is currently placed at Rs 600 levels in a decisive manner to embark on a new breakout. If that happens, a rally towards the next resistance of Rs 635 cannot be ruled out. The Relative Strength Index (RSI) has made a formation of Inverse Head and Shoulder, with a breakout above 50 value. If the counter gives
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