ICICI Bank share price outlook: This stock to trend with positive bias, expert says; know why
ICICI Bank Share Price Outlook: The outlook of ICICI Bank stock remains positive, Technical and Derivatives Analyst Nilesh Jain at Anand Rathi said. He added that after the strong quarterly results posted by its peer HDFC Bank, this private sector lender is also expected to follow suit
ICICI Bank Share Price Outlook: The outlook of ICICI Bank stock remains positive, Technical and Derivatives Analyst Nilesh Jain at Anand Rathi said. He added that after the strong quarterly results posted by its peer HDFC Bank, this private sector lender is also expected to follow suit.
ICICI Bank stocks have been trading in a rising channel and the rally is expected to continue in it, going forward, Jain said.
At 2:40 pm, ICICI Bank share price was trading around Rs 413.80 on NSE, down by almost 0.8 per cent from the previous close on Friday.
Jain said that this stock has a strong support zone around Rs 388. Investors willing to buy this stock should look for buying it in the range of Rs 400 – Rs 410.
The 52-week high of ICICI Bank shares is Rs 552.20 which was achieved on 30 December 2019 while the 52-week low is Rs 268.30 on 24 March 2020
He said that the banking sector has been an underperformer and is expected to pick up. It will prove to be an outperformer in the near to medium term. This index heavy weight will gain from the overall segment performing better, he further said.
ICICI Bank will announce its results on 31 October, it has said in its filing to the exchanges.
Jain said that the private banking sector wil take cues from the HDFC Bank results.
See Zee Business Live TV Streaming Below:
On Saturday, HDFC Bank announced its Q2FY21 results where it reported an 18.4 per cent year-on-year rise in standalone net profit at Rs 7,513.10 cr. India's largest private lender had reported a profit of Rs 6,344.99 cr in the year ago quarter.
Today, Bank Nifty was trading in the green. At around 3:10 pm, it was up by 0.22 per cent from the previous close, trading at 24321.10.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
03:55 PM IST