Techincal Report::ICICIBANK ::LONG TERM BUY::CMP 799

[K.Karthik Raja]

ICICI Bank Ltd CMP @ 799
Segment: EQ
NSE Code: ICICIBANK
Paidup Value 10
Face Value: 10
Market Lot: 1
ISIN Code : INE090A01013
Listing Date : 17-SEP-1997
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Icicibank may consolidating in a range of 720-760 levels in last few
trading sessions. The 14-day RSI is indicating the stock to be in
the 'oversold' territory there by negating any significant sell-off in
near term. Investors are advised to accumulate the stock in the range
of 780-840 levels for an Long-term target of 920/1037/1239.still
ICICIBANK has the Strong support @ 650-630 levels based on 200 days
moving average.Short term investor also can enter strcitly above 850
levels.
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Today Stock Movement
CMP 799
High: 835.00 Low: 797.30
Open: 835.00 Value: 335.34 Cr.
Volume: 4094051 10-day Avg. Vol: 4270363
Circuit Filters For Next Day: No Circuit Filters
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STOCK PERFORMANCE
52-Week Range (Low - High) : 720.05 - 1455.50
4.76% in 1 Week
-6.50% in 1 Month
-14.35% in 1 Year
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Moving Averages for ICICIBANK

SMA-7: 799.81 SMA-13: 809.13 SMA-26: 838.07 SMA-50: 984.19
SMA-200: 1051.91
EMA-12: 811.60 EMA-26: 862.35 EMA-50: 947.74 EMA-200: 1024.39
MACD: -50.75

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Volume (last/ 5 day average): 4094000 / 3944000
- 5 day RSI: 47 - no indication.
- 14 day RSI: 41 - no indication.
- Williams % R(14): 45 (summation factor 100)
- Average Directional Index ADX: 24

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F & O UPDATE As on 10th April 2008
Current month futures for ICICIBANK closed at 802.85 (Rs. 1.90
PREMIUM) with a turnover of Rs. 266.08 Crores.Adds 217000
shares(3.20%) in open interest pushing the open interest to 6988450
shares.
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Commentary For Trading/Invesment:ICICIBANK
2 day swing: Buy given @ 811. Hold with SL 797
5 day swing: Buy given @ 842. Hold with SL 727
20 day swing: Buy above 924.
Buy/Accumulate : 780-840 levels for an Long-term target of
920/1037/1239 SL 650-630
All long positions in the stocks should be protected with a stop loss
placed below mentioned levels on a closing basis.

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Disclaimer
The suggestions made herein are for information purposes and are not
recommendations to any person to buy or sell any securities. The
information is derived from various sources that are deemed to be
reliable but its accuracy and completeness are not guaranteed.. The
company does not accept any liability for the use of this column.
Readers of this column who buy or sell securities based on the
information in this column are solely responsible for their actions.
And we won't be liable or responsible for any legal or financial
losses made by anyone