ICICIBANK - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 3.4
| Stock Code | ICICIBANK | Market Cap | 9,05,447 Cr. | Current Price | 1,263 ₹ | High / Low | 1,500 ₹ |
| Stock P/E | 18.1 | Book Value | 467 ₹ | Dividend Yield | 0.87 % | ROCE | 6.92 % |
| ROE | 16.0 % | Face Value | 2.00 ₹ | DMA 50 | 1,318 ₹ | DMA 200 | 1,350 ₹ |
| Chg in FII Hold | -9.39 % | Chg in DII Hold | -6.80 % | PAT Qtr | 13,702 Cr. | PAT Prev Qtr | 11,318 Cr. |
| RSI | 40.3 | MACD | 0.08 | Volume | 1,92,13,540 | Avg Vol 1Wk | 1,60,76,936 |
| Low price | 1,188 ₹ | High price | 1,500 ₹ | PEG Ratio | 1.11 | Debt to equity | 5.74 |
| 52w Index | 24.3 % | Qtr Profit Var | 8.49 % | EPS | 70.0 ₹ | Industry PE | 15.0 |
📉 Chart Patterns & Trend: ICICIBANK is trading below both its 50 DMA (₹1,318) and 200 DMA (₹1,350), confirming short-term and medium-term weakness. Current price (₹1,263) is near support at ₹1,240–₹1,250, suggesting consolidation with limited upside unless a rebound occurs.
📊 Momentum Indicators: RSI at 40.3 indicates weak momentum, close to oversold territory. MACD at 0.08 is flat, showing lack of clear directional strength. Bollinger Bands show price drifting near the lower band, signaling pressure but possible mean reversion.
📈 Volume Trends: Current volume (1.92 Cr) is higher than average weekly volume (1.60 Cr), reflecting increased participation but likely driven by selling pressure.
🎯 Entry Zone: ₹1,240 – ₹1,260 (near support, favorable risk-reward).
🚪 Exit Zone: ₹1,320 – ₹1,340 (near 50 DMA resistance; profit-taking zone if rebound occurs).
🔎 Status: The stock is consolidating near support but remains in a mild downtrend. Sustained recovery requires price action above ₹1,350 (200 DMA).
Positive
- Strong ROE (16.0%) highlights profitability.
- Quarterly PAT growth (+8.49%) supports earnings momentum.
- EPS of ₹70.0 provides valuation strength.
- Dividend yield of 0.87% offers steady income.
Limitation
- Stock trading below both 50 & 200 DMA indicates technical weakness.
- RSI below 50 confirms weak momentum.
- High debt-to-equity ratio (5.74) raises leverage concerns.
- FII (-9.39%) and DII (-6.80%) holdings declined, showing reduced institutional confidence.
Company Negative News
- Sequential decline in institutional holdings (FII & DII).
- Technical weakness with price below key moving averages.
Company Positive News
- Quarterly PAT improved from ₹11,318 Cr to ₹13,702 Cr.
- EPS remains strong at ₹70.0.
Industry
- Banking sector trading at industry PE of 15.0, lower than ICICIBANK’s P/E (18.1), suggesting relative overvaluation.
- Sector outlook remains steady with credit growth but cautious due to liquidity pressures.
Conclusion
⚠️ ICICIBANK is technically weak, consolidating near support with bearish signals. Fundamentals remain strong, but institutional outflows and leverage concerns weigh on sentiment. Short-term traders may consider entry near ₹1,240–₹1,260 with exits around ₹1,320–₹1,340. Long-term investors should wait for confirmation above ₹1,350 before fresh accumulation.
Would you like me to extend this into a sector overlay comparison with peers like HDFC Bank, Axis Bank, and Kotak Bank to benchmark ICICIBANK’s relative strength?