In the previous session, the market had a minor negative start. However, we have noticed recovery immediate after the first trade. The nifty index marked a fresh new high near 18041. Technically, the index formed a Doji candle on the chart and closed with a net gain of 50.75 points. We recommend continuing to approach the markets in a stock specific way.

Look at the below research report of ‘Stocks to Buy for – Tuesday, October 12, 2021’ before the market opens.

ICICI Bank Ltd

ICICIBANK Stock prices have formed a strong positive candle in the previous session. Prices have been giving a break above the Ichimoku cloud which is a strong indication of a positive trend. The up move has been supported by the base and the conversion lines as both the lines are seen rising along with price. Along with this, The Relative Strength Index (RSI) on the daily chart is 54, which indicates bullishness. The important thing to witness is that stock comfortably closed above the Middle Band Bollinger band which indicates positive momentum in coming days.

In short, the trend for ICICIBANK looks to be positive. A throwback can be expected near 705-706 levels. Use dips as a buying opportunity for a move towards 743 levels as long as 688 levels hold on the downside.

Check More Analysis on ICICIBANK at: ICICI Bank Ltd