{"id":284139,"date":"2013-01-28T10:45:17","date_gmt":"2013-01-28T05:15:17","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=284139"},"modified":"2013-01-28T10:48:51","modified_gmt":"2013-01-28T05:18:51","slug":"analysis-icicibank-ibn-2","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2013\/01\/28\/analysis-icicibank-ibn-2\/","title":{"rendered":"Analysis: ICICIBANK (IBN)"},"content":{"rendered":"

Today\u2019s pick is ICICIBANK [stockquote]ICICIBANK[\/stockquote]. The stock started the year with an uptrend to see Rs. 1,000 levels in February, but lost its mojo to find support at Rs. 800 levels by June. Since then the stock again started its up-move and saw its 52 weeks high of Rs. 1,200 a couple of weeks ago. In the last three months, the stock has moved +12%<\/strong><\/b> vs. +7% of the Nifty\u2019s. <\/p>\n

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

Oscillators RSI<\/a> and CMO<\/a> are hovering in no man\u2019s land and hence are not suggesting any direction. The stock is trading in the middle of its Bollinger band<\/a>. Short-term technical just saw 18×4 and 18×9 bearish<\/b> cross-over. <\/p>\n

The MACD<\/a> line and signal line are moving away from each other and unable to suggest any short-term direction. Long-term GMMA<\/a> lines are moving away from each other and hence are giving a bullish<\/b> bias for the stock. <\/p>\n

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

ICICIBANK\u2019s average correlation<\/a> with the Nifty<\/a> is 0.82 which is positive<\/b> and very strong<\/b>. The scrip will be closely replicating movement of Nifty. [stockquote]NIFTYBEES[\/stockquote] <\/p>\n

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

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

It appears that only one bulge-bracket analyst (Credit Suisse) is covering this stock and has an \u201cout-perform\u201d on it. <\/p>\n

Given these technicals, we suggest a short-term Watch. <\/b>A longer term call could be taken based on the directional break-out of the flag under formation. <\/p>\n

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