{"id":529041,"date":"2013-03-11T09:55:39","date_gmt":"2013-03-11T04:25:39","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=529041"},"modified":"2013-03-11T10:17:24","modified_gmt":"2013-03-11T04:47:24","slug":"analysis-icicibank-ibn-3","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2013\/03\/11\/analysis-icicibank-ibn-3\/","title":{"rendered":"Analysis: ICICIBANK (IBN)"},"content":{"rendered":"

Today\u2019s pick is ICICIBANK [stockquote]ICICIBANK[\/stockquote]. The stock started the year with a downward move to reach Rs. 800 levels. After finding support for a couple of weeks the stock started its up-ward movement. It saw the 52 weeks high of Rs. 1,210 in February, but since then was on a down-trend to find support on the trend-line. In the last three months, the stock moved +2%<\/strong><\/b> same as that of the Nifty\u2019s.<\/p>\n

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

Oscillator RSI<\/a> and CMO<\/a> are in no man\u2019s land. The stock is currently trading in the upper side of Bollinger band<\/a>s. Short-term technical just saw 4X9 and 4X18 bullish<\/b> SMA cross-over.<\/p>\n

The MACD<\/a> line has just penetrated the signal line in a bullish manner. However, the Long-term and short-term GMMA<\/a> lines are contracting, unable to provide any outlook for the stock.<\/p>\n

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

ICICIBANK\u2019s average correlation<\/a> with the Nifty<\/a> is 0.82<\/b> which is positive 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

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

Analysts have positive expectations regarding this stock. Less than expected earnings might hit the street expectations in the coming reviews and might impact the stock as well.<\/p>\n

Given these technicals, we suggest a short-term Hold. <\/b>A long-term call could be taken depending on the price action around Rs. 1,200 levels. It is also suggested to have tight trailing stop-losses<\/a> level to book profits in case of a sudden trend-reversal.<\/p>\n

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