ICICIBANK - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 3.9

Here’s a detailed technical analysis of ICICI Bank Ltd (ICICIBANK)

📊 Trend Overview

Current Phase: Consolidating with mild bullish bias

Price Action: Trading near the 50-DMA (₹1,424) and above the 200-DMA (₹1,366), indicating long-term strength but short-term indecision.

Volume: Slightly above average, suggesting steady participation but no breakout momentum.

📈 Momentum Indicators

RSI (51.6): Neutral zone — indicates consolidation, with no strong directional bias.

MACD (-4.31): Negative and flattening — signals weakening momentum, but potential for reversal if crossover occurs.

Bollinger Bands: Price likely near the middle band, consistent with sideways movement and low volatility.

🧭 Chart Patterns

Sideways Channel: Price oscillating between ₹1,400–₹1,460, forming a horizontal range.

Trendline Support: Rising trendline from ₹1,186 remains intact, supporting long-term bullish structure.

🔍 Support & Resistance Levels

Level Price (₹) Commentary

Support 1 1,400 Minor pullback zone

Support 2 1,366 200-DMA, long-term support

Support 3 1,300 Previous swing low

Resistance 1 1,460 Channel ceiling

Resistance 2 1,500 52-week high

Major Resistance 1,525 Extension target

🎯 Entry & Exit Zones

Optimal Entry: ₹1,400–₹1,420 (on dips with volume confirmation)

Short-Term Target: ₹1,460–₹1,500

Exit Zone / Stop-Loss: ₹1,366 (below 200-DMA)

🔄 Short-Term Outlook

Momentum: Weak but stabilizing

Bias: Neutral-to-bullish above ₹1,400; cautious below ₹1,366

Phase: Consolidating — awaiting breakout confirmation

🧠 Key Takeaways

ICICI Bank is in a consolidation phase after a strong rally, forming a horizontal channel.

RSI and MACD suggest indecision, while long-term moving averages confirm underlying strength.

A breakout above ₹1,460 with volume could trigger a move toward ₹1,500–₹1,525.

Let me know if you’d like a chart visualization or screener of similar large-cap consolidating stocks.

Edit in a page