ICICI bank share price forecast 2014

ICICI bank share price forecast 2014

ICICI bank stock short term technical view

ICICI bank stock on last trading session closed at 1445 with loss. On daily chart, ICICI bank stock is in strong bull trend and with strong buying demand. On daily chart, stock is trading way above all short-term averages with overbought indicator pattern. From short-term view, stock has support levels at 1420 and 1360 rupees while on upside 1490 and 1550 are strong resistances. 1190 rupees is major short-term average level and above it expect bullish view for ICICI bank. Daily chart indicators are in overbought zone and with mixed pattern.

Traders here expect correction in short terms and below 1490 keep bearish view or profit booking view. We may see stock will retrace up to 1360-1350 levels.

ICICI bank stock medium term technical view

ICICI bank stock for this week is showing some losses. This week high point was at 1470 while low was at 1422. Stock weekly chart price trend and momentum both are strong bullish. On weekly chart, stock has support zones at 1335 and 1110. 1110 is major average support and above it expect bullish trend for stock. On upside 1555 and 1780 are strong resistances. Weekly chart indicators patterns are bullish but overbought so expect technical correction in medium terms.

For medium term traders and investors 1335 is trailing stop loss and target will remain at 1555 and then 1780, which can be achievable in next 6 to 12 month period.

ICICI bank stock long term technical view

ICICI bank stock in last 6 month had given 405 returns to investors and major factor in nifty rally and outperforming the market with 23%. ICICI bank is fundamentally strong company and given performance as expected. 1480 was 12 months target, which is already achieved. Above it, 1900 rupee is target zone for next 12 to 18 month period. On downside, 1055 rupee is major long-term average zone and above it, investors keep buy and accumulate view for this stock. On downside, 600-700 rupee was best buy zone, which was last seen in 2011, and 200-300 rupee was much-undervalued zone, which was last seen in 2008 crash. 1480 will be strong resistance for now on monthly chart.

ICICI bank company description

ICICI Bank Limited (the Bank) is a banking company. The Bank, together with its subsidiaries, joint ventures and associates, is a diversified financial services group providing a range of banking and financial services, including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury products and services. It operates under four segments: retail banking, wholesale banking, treasury and other banking. Retail Banking includes exposures of the Bank, which satisfy the four criteria of orientation, product, granularity and low value of individual exposures for retail exposures. Wholesale Banking includes all advances to trusts, partnership firms, companies and statutory bodies, which are not included under Retail Banking. Treasury includes the entire investment portfolio of the Bank. Other Banking includes hire purchase and leasing operations and other items.

ICICI bank stock fundamental ratios

Range1,450.65 – 1,485.00
52 week756.90 – 1,593.20
Open1,479.95
Vol.1.83M
Mkt cap1.68T
P/E48.31
Div/yield23.00/1.58
EPS30.10
Shares1.16B
Beta
Inst. own

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Updated: 20/05/2014 — 5:03 PM

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.

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