ICICI Bank share price Technical Analysis 2013

ICICI Bank share price daily chart technical analysis

ICICI Bank share on last trading session closed at 974.on daily chart ICICI Bank share trend and momentum bullish but going through correction phase.

on daily chart,ICICI Bank share week average is 974 while on downside 944 is month as well as 3 month average support level.while on upside 1005 and 1065 are resistance levels.

here short term traders above 940 can keep long view for upside targets upto 1005 and then 1065.


ICICI Bank share price weekly chart technical analysis

ICICI Bank share on weekly chart showing loss in this week.on chart showing reversal from 12 and 24 month average which is very bearish sign.

on upside,998 is 12 month average and strong resistance zone.below that 980 is 2 years average and 6 month average zone and next resistance on weekly closing basis.on downside 880 and 760 are major support zones on daily chart.

from medium term view,keep wait and watch strategy and if closed below 970 in this week then must go short or expect downside levels upto 780.but closing above 970 means bullish breakout from medium term and expect large upside move upto 1175.


ICICI Bank share price monthly chart technical analysis


ICICI Bank share on monthly chart showing gains in month of oct.this will be second gaining month for ICICI Bank share prices.after Deeping below 5 years average level of 850,prices now recovering and trending higher.

on downside 940 is 3 years average level and first major support while 875 is 5 years average level and last support on monthly closing basis.while on upside 1210 and 1340 are major resistance levels on monthly chart.

on historic view,with all split/bonus/dividend adjustment we can see ICICI Bank share all time low was in 2003 at 110.while all time high was at 1344 in 2008 bull market.

ICICI Bank share is best banking stock from private banking sector.blue chip bank with global presence and must be in your long term portfolio.500-700 is buy and accumulation zone on any major correction while on upside my personal target for this share is 1390 and then 1795 in next 18-24 months time period.

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Pramod Baviskar

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