{"id":236363,"date":"2012-11-19T10:38:47","date_gmt":"2012-11-19T05:08:47","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=236363"},"modified":"2012-11-19T10:38:47","modified_gmt":"2012-11-19T05:08:47","slug":"analysis-icicibank-ibn","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2012\/11\/19\/analysis-icicibank-ibn\/","title":{"rendered":"Analysis: ICICIBANK (IBN)"},"content":{"rendered":"

Today\u2019s pick is [stockquote]ICICIBANK[\/stockquote]. The stock has been in an up-trend since lows of last December. However, the last one and a half month has seen a range bound movement for the stock. In the last three month period, the stock was up 6%<\/strong> Vs. Nifty\u2019s<\/a> 4%<\/strong>. <\/p>\n

\"image\"<\/a> <\/p>\n

Oscillators RSI<\/a> and CMO<\/a> are at currently at 40 and -33 are hovering around the over-sold territory but are not suggesting any direction. <\/p>\n

MACD<\/a> line and the signal line are moving away from each other and are not suggesting any trend. The 18X9 cross-over is currently bearish. <\/p>\n

Every technical chart currently is showing a divergence with the price chart. This is not a very good sign for the near-term. <\/p>\n

The GMMA<\/a> long-term lines were running parallel to each other but are closing in because of the range-bound movement in the recent past. This is a bearish sign for the stock. <\/p>\n

\"image\"<\/a> <\/p>\n

ICICIBANK\u2019s average correlation<\/a> of 0.82 with the Nifty<\/a> is positive and quite strong. The stock will replicate the movements of Nifty closely because of the high co-efficient. [stockquote]NIFTYBEES[\/stockquote] <\/p>\n

\"image\"<\/a> <\/p>\n

ICICIBANK has a historical volatility<\/a> in the range of 0.3 to 0.8. The scrip\u2019s volatility is currently towards the higher side of the range. <\/p>\n

Analysts have mixed expectations regarding this stock. Next set of earnings can help bring a different picture on the charts. <\/p>\n

Looking at these technicals, keep off<\/strong> this scrip for the short-term<\/b>. A break-out of the flag in either direction will trigger a longer-term call. <\/p>\n

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