ICICI Bank may target 860 rupees - analyst

Last Updated: Tue, Nov 20, 2012 11:51 hrs

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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