ICICI Bank Ltd

NSE :ICICIBANK   BSE :532174  Sector : Banks

About Company: ICICI Bank is a large private sector bank in India offering a diversified portfolio of financial products and services to retail, SME and corporate customers. The Bank has an extensive network of branches, ATMs and other touch-points.

News in ICICI Bank: ICICIBANK reported a nearly 30% jump in net profit in the second quarter to a record, led by strong loan growth. The private sector lender’s net income jumped to ₹5510 crore in the quarter-ended September.

Weekly Chart of ICICI Bank:

Technical Outlook of ICICI Bank:

Today on 25-Oct-2021 Monday trading session stock rallied 10.85% and closed at 841.70. Stock rallied today backed by strong Q2 performance. Technically stock is trading in Upward Sloping Channel Pattern on weekly chart as market on the chart above. Currently stock is approaching resistance level which lies at 895- 900. Comparative relative strength shows out performance in the stock compared with index returns also squeeze momentum indicator is trading in positive zone, But one should avoid any fresh buying in the stock as risk reward ratio at currently level are not looking a comfortable zone and we recommend traders and investor to enter the stock on dips after some correction.