Today's Opening - 294
Today's High - 295
Today's Low - 285
Today's Closing - 286
Lowest closing since 7th May. The stock has been making daily new lows over the past four days with low volumes.
For the past 10 days, the Positive Directional Index has been stronger than the Negative Directional Index.
However, the 12, 26-day Moving Average Convergence Divergence has remained positive since 8th May.
For the past three trading sessions, the stock has been closing lower than the 5-day Exponential Moving Average.
The 20-day Commodity Channel Index dropped below zero today. The 2-day Relative Strength Index too has dipped below 50% today.
ICICI Bank has corrected by more than 10% over the last three months. While the stock is not showing any immediate signs of recovery, however the low volumes and rest all technicals are indicating that it's not looking too weak either. It has a strong support at 275 and seems to be waiting for an external trigger to try and break the 318 resistance level. Accumulate at current levels and remain patient for it to cross the 318 level.
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