Category Archives: ICICI Bank

ICICI Bank

Last couple of months was really fascinating for Banking Sector stocks, where representative of all major banks Bank Nifty managed to make fresh all time high of 13414.30 in Mid May’13, although new high was marginal, so better we consider it as retesting of the highs of Nov’10.

We are covering on investors and traders darling stock ICICI Bank. Let’s take brief view on ICICI Bank.

ICICIBANK Daily chart

ICICIBANK Daily chart

  • After making all time high of 1455.50 in Jan’08, ICICI Bank has never seen those levels in last five years. Even in 2010 it has made a lower high of 1279, and when Bank Nifty tested old high in May’13 it made again lower high 1238.40. Importantly, with this observation we should note, that after 2008’s panic low ICICI Bank is also making higher lows year on year. Technically, this scenario gives birth to some Triangle like formation in a big trend, which in itself is corrective in nature.

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