Technical Analysis of Indian Equities by Nooresh

ICICI Bank – Strong Breakout on Weekly Charts


ICICI Bank :


As per the weekly Charts the stock seems to be on a major breakout. Could become a leader for the Index.

Article by Nooresh Merani

Nooresh has written 2807 articles.

You can follow Nooresh Tech on Facebook and Twitter here.

{ 6 comments… add one }
  • hesh September 7, 2010, 22:52

    Hi dear nooresh,

    You glad to know that before your analysis i already analysis of icici bank when it near 1000 that this stock will move to 1090-1150-1210. Here is my statement.

    I am positive on ICICI BANK for medium term. We see upside tgt of icici bank 1090-1150-1210 stoploss should be 905-15. Here is chart for detail view. date 2-9-2010


  • shivaji September 8, 2010, 23:02

    hi nooresh as per my analysis strong breakout is seen only above 1050 and i see 1250 above 1050 for medium term …as of now icici bank trading below breakout level of 1050 and hence its not a breakout yet….. pl comment on my analysis….

    • nooresh September 9, 2010, 02:15

      Hi Shivaji,

      ICICI Bank should breakout in coming weeks

  • hesh September 8, 2010, 23:13

    thanks nooresh for +ve reply. I got confidence after that. Karutari global i look +ve above 24 small spike till 28. & some bottom out stocks will U turn shortly. Punj llyod 112, Rnrl 38, Bartronics 103(hit today 120 with +18%)


    • nooresh September 9, 2010, 02:15

      Hi Hesh,

      Karuturi will wait.

      Punj and others are bounce backs and may not sustain for few sessions. Prefer low risk ones


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.