ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • IRDAI sets a target of 5 years for life insurance companies for greater penetration; proposes state-level committee
  • Dalal Street Corner: Bank, FMCG stocks help Nifty clear crucial hurdle of 15,800; what should investors do on Tuesday?
  • Despite windfall tax, brokerages remain bullish on oil & gas stocks; see up to 70% upside on ONGC, Oil India
  • Rupee settles flat at 78.94 against US dollar
  • Akasa Air showcases crew uniform; conducts proving flight test
Read in App
Business News » India News

Share to buy on May 29: ICICI Bank share price to rise 10 pct in one month, say stock market experts

ICICI Bank share price may rise up to 10 per cent and can rise to Rs 480 to Rs 485 levels seen from 1-month perspective.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Share to buy on May 29: ICICI Bank share price to rise 10 pct in one month, say stock market experts
ICICI Bank is largest corporate lender after the SBI and ICICI share price is in 'Blue Sky Territory' that makes the banking stock an automatic pick, say experts. Photo: PTI

ICICI Bank is the leading corporate lender bank in India after SBI and big infrastructure projects expected to kickstart post-re-appointment of Narendra Modi as Prime Minister for the second time may well boost ICICI Bank shares. ICICI share price is in 'Blue Sky Territory' that makes the banking stock an automatic pick, say experts. Stock market experts are predicting an upside swing in the banking major for around 10 per cent in one month. Experts say ICICI Bank share price is expected to go northward from both fundamental and technical perspective. They say that the counter may show Rs 480 to 485 per stock levels in the short-term perspective. On Tuesday, ICICI Bank shares closed at Rs 437 per share.

Speaking on the fundamentals supporting an upside swing in the ICICI Bank counter Prakash Pandey, Head of Equity Research at Fairwealth Securities said, "After the thumping victory of Narendra Modi in recently held Lok Sabha Elections, a good number of infrastructure projects are expected to kickstart once the new cabinet becomes operational. Since ICICI Bank is a major corporate lender after the SBI, the bank is expected to get better business through corporate funding. Apart from that, the ICICI Bank shares are at all-time high and hence they have no resistance that puts the banking counter in 'Blue Sky Territory' and hence the banking share becomes an automatic pick for the stock market investors." 

Asked about the outlook of the ICICI Bank shares Pandey said, "The fundamentals of the counter suggest an upside swing for around 10 per cent in a short-term perspective and it can show Rs 480 per stocks to Rs 485 per stocks level in one month." 

Standing in sync with Prakash Pandey's views is Simi Bhaumik, SEBI registered technical equity analyst told Zee Business Online, "ICICI Bank counter is highly bullish and in next one, to two trade sessions we can expect some profit booking in this counter. My advice for the stock market investors is to buy on dips at around Rs 400 per stock levels taking stop loss below Rs 390 per stock levels." She said that the counter may show Rs 460 to Rs 470 per stock levels within a fortnight post-Narendra Modi's swearing-in ceremony.

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.

TAGS:
ICICI BankBank NiftyDALAL STREETSensexNiftyBSE
Written By: Asit Manohar
Updated: Tue, May 28, 2019
09:51 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Three of top 10 BSE-listed companies lose Rs 73,630 cr in market capitalisation; HUL, ICICI Bank among biggest drag Three of top 10 BSE-listed companies lose Rs 73,630 cr in market capitalisation; HUL, ICICI Bank among biggest drag
Government declares ICICI Bank's IT resources as 'critical information infrastructure' Government declares ICICI Bank's IT resources as 'critical information infrastructure'
Chanda Kochhar case: SAT pronounces verdict, sends matter to SEBI's adjudicating officer Chanda Kochhar case: SAT pronounces verdict, sends matter to SEBI's adjudicating officer
ICICI, BoB, BoI, Central Bank revise lending rates after RBI's repo rate hike ICICI, BoB, BoI, Central Bank revise lending rates after RBI's repo rate hike
ICICI Bank, HCL Technologies and Cyient Ltd: What should investors do with these stocks? Check target prices ICICI Bank, HCL Technologies and Cyient Ltd: What should investors do with these stocks? Check target prices

LATEST NEWS

Opening Bell: Nifty, Sensex open flat; Bank, FMCG stocks gain, metal top loser

Despite windfall tax, brokerages remain bullish on oil & gas stocks; see up to 70% upside on ONGC, Oil India

Anil Singhvi Strategy on July 5: Support zone on Nifty is 15750-15800 and Bank Nifty is 33725-33825

Stocks to buy today: List of 20 stocks for profitable trade on July 5

7th Pay Commission Latest News: Air Force Announces vacancies for Group C positions; here are details, how to apply?

IRDAI sets a target of 5 years for life insurance companies for greater penetration; proposes state-level committee

Closing Bell: Indian markets snap 3-day losing streak; FMCG, banking and financials surge most

Prices of agricultural commodities are falling low; what is leading to the fall

Financial, IT contribute 93% of FPI selling in 12 months; FIIs on longest selling spree since CY08 global financial crisis

PM Narendra Modi to inaugurate 8th Edition of Digital India Week 2022; event to be hosted in Gandhinagar on 7-9 July

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV