ICICI Bank may target 860 rupees - analyst

ICICI Bank may target 860 rupees - analyst

Last Updated: Tue, Nov 20, 2012 11:51 hrs
An employee's shadow is cast on the ICICI Bank logo at their headquarters in Mumbai

Technical analysts say any rally in ICICI Bank provides an opportunity to exit the stock after the lender has made a head and shoulders technical pattern.

AK Prabhakar, an analyst at brokerage AnandRathi, says the stock could target 860 rupees from current levels after the H&S pattern.

ICICI shares last down 0.1 percent at 1020.30 rupees.

ICICI Bank touched a low of 866.75 rupees on Oct. 5, when a misplaced basket trade from a broker at Emkay Global Financial Services led to a market plunge.

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