ICICI BANK LTD.

- USD (-)

- 15 min delayed data - NYSE Stocks

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Type:	Stocks
Ticker:	IBN
ISIN:

ICICI BANK LTD. - Daily - Technical analysis published on 12/02/2024 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

56%

44%

My opinion

Bullish above 29.37 USD

My targets

31.38 USD (+2.68%)

My analysis

The bullish trend is currently very strong on ICICI BANK LTD.. As long as the price remains above the support at 29.37 USD, you could try to benefit from the boom. The first bullish objective is located at 31.38 USD. The bullish momentum would be boosted by a break in this resistance. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

7.1

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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Additional analysis

Quotes

ICICI BANK LTD. rating 30.56 USD. On the day, this instrument lost -0.03% and was between 30.42 USD and 30.67 USD. This implies that the price is at +0.46% from its lowest and at -0.36% from its highest.

30.42

30.67

30.56

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Records scanner for higher/lower results shows the following items:

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in Daily of this ICICI BANK LTD. chart shows a strongly bullish trend. 85.71% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals several bearish and bullish signals:

Bullish trend reversal : Moving Average 20

Type : Bullish

Timeframe : Daily

Bearish trend reversal : Moving Average 50

Type : Bearish

Timeframe : Daily

The probability of a further increase are moderate given the direction of the technical indicators.
The Central Indicators scanner found no further results concerning independent technical indicators.

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Near horizontal resistance

Type : Bearish

Timeframe : Daily

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	27.55	28.70	29.37	30.56	31.38
Change (%)	-9.85%	-6.09%	-3.89%	-	+2.68%
Change	-3.01	-1.86	-1.19	-	+0.82
Level	Minor	Intermediate	Intermediate	-	Major

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	30.16	30.29	30.43	30.56	30.70	30.83	30.97
Camarilla	30.50	30.52	30.55	30.57	30.60	30.62	30.64
Woodie	30.17	30.29	30.44	30.56	30.71	30.83	30.98
Fibonacci	30.29	30.39	30.46	30.56	30.66	30.73	30.83

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	29.28	29.85	30.21	30.78	31.14	31.71	32.07
Camarilla	30.31	30.40	30.49	30.57	30.66	30.74	30.83
Woodie	29.18	29.80	30.11	30.73	31.04	31.66	31.97
Fibonacci	29.85	30.21	30.43	30.78	31.14	31.36	31.71

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	27.36	28.32	29.44	30.40	31.52	32.48	33.60
Camarilla	30.00	30.19	30.38	30.57	30.76	30.95	31.14
Woodie	27.45	28.36	29.53	30.44	31.61	32.52	33.69
Fibonacci	28.32	29.11	29.60	30.40	31.19	31.68	32.48

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	54.63
MACD (12,26,9):	0.2000
Directional Movement:	4.33
AROON (14):	28.57
DEMA (21):	30.55
Parabolic SAR (0,02-0,02-0,2):	29.61
Elder Ray (13):	0.12
Super Trend (3,10):	29.71
Zig ZAG (10):	30.56
VORTEX (21):	0.8500
Stochastique (14,3,5):	67.15
TEMA (21):	30.64
Williams %R (14):	-38.13
Chande Momentum Oscillator (20):	0.83
Repulse (5,40,3):	0.0900
ROCnROLL:	1
TRIX (15,9):	0.0600
Courbe Coppock:	3.02

MA7:	30.68
MA20:	30.23
MA50:	30.06
MA100:	29.42
MAexp7:	30.58
MAexp20:	30.32
MAexp50:	29.98
MAexp100:	29.33
Price / MA7:	-0.39%
Price / MA20:	+1.09%
Price / MA50:	+1.66%
Price / MA100:	+3.87%
Price / MAexp7:	-0.07%
Price / MAexp20:	+0.79%
Price / MAexp50:	+1.93%
Price / MAexp100:	+4.19%

Quotes : - 15 min delayed data - NYSE Stocks

News

The latest news and videos published on ICICI BANK LTD. at the time of the analysis were as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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