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ICICI Bank Limited               BUY   technical

CMP: `286 (As on 03rd Apr 2017)       pick
Buy on decline: `286-280
Target Price: `300-320                ICICI Bank Ltd is India's second-largest bank. The
Stop-Loss: `270                       service offered by the company includes Deposits,
                                      Loans, Cards, Investments, Insurance and Demat.
           ICICI Bank Ltd.            In the NRI segment services offered include
                                      Money Transfer, Bank Accounts, Investment,
                                      Home Loans, Insurance, Loans against FD, etc.
                                      It offers a wide range of banking products and
                                      financial services to corporate and retail customers.
                                      It mainly operates in Retail Banking, Wholesale
                                      Banking and Treasury. ICICI Bank also offers wide
                                      range of financial services to corporate and retail
                                      customers through its specialized subsidiaries in
                                      the areas of investment banking, life and non-life
                                      insurance, venture capital and asset management.
                                      It has subsidiaries in UK, Russia and Canada,
                                      branches in US, Singapore, Bahrain, Hong Kong,
                                      Sri Lanka, Qatar and Dubai International Finance
                                      Centre and representative offices in United Arab
                                      Emirates, China, South Africa, Bangladesh,
                                      Thailand, Malaysia and Indonesia.

                                      Technical Outlook:

                                      On the weekly chart, the stock is making a higher
                                      top higher bottom formation which is a sign
                                      of strength. Further on the daily chart we are
                                      observing that 290 is multiple resistances, however
                                      looking at the RSI which is gaining momentum
                                      suggests that the stock has potential to cross the
                                      above mentioned resistance.

                                      Hence we recommend buying in stock at Rs 286
                                      or on a decline up to Rs 280 with a stop loss of
                                      Rs 270 for a target of Rs 300-320 levels.

                                                                     5 ARIHANT CAPITAL ยก APRIL 2017
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