scorecardresearchICICI Bank shares rise over 2% after June quarter earnings

ICICI Bank shares rise over 2% after June quarter earnings

Updated: 25 Jul 2022, 02:20 PM IST
TL;DR.
On a standalone basis, the second-largest private sector lender reported a net profit of 6,904.94 crore, against 4,616.02 crore in the year-ago period, but was lower than 7,018.71 crore in the preceding March quarter.
ICICI Bank: The brokerage has a target price of  <span class='webrupee'>₹</span>800 for this banking stock, implying an upside of 18 percent. Stop loss at  <span class='webrupee'>₹</span>570 and entry range of  <span class='webrupee'>₹</span>655-635, said the brokerage. The stock is approaching 620 mark which is a very strong demand zone as per the pitchfork tool. This zone is also the 161.8 percent retracement of the previous move. We saw the data from 2016 and found that whenever the RSI of ICICI Bank went below 30 mark there has been a bottom formation most of the times and this time too the RSI is below 30, the brokerage house said.

ICICI Bank: The brokerage has a target price of 800 for this banking stock, implying an upside of 18 percent. Stop loss at 570 and entry range of 655-635, said the brokerage. The stock is approaching 620 mark which is a very strong demand zone as per the pitchfork tool. This zone is also the 161.8 percent retracement of the previous move. We saw the data from 2016 and found that whenever the RSI of ICICI Bank went below 30 mark there has been a bottom formation most of the times and this time too the RSI is below 30, the brokerage house said.