ICICI Bank | Near the range high (resistance) | Latest stock market news

(3 minutes read)

Stock name: ICICI Bank

Pattern: Near the range high (resistance)

Time frame: Daily

Observation: ICICI bank is trading in a range of 670 to 775 since the month of March 2022. Currently the stock has taken a resistance around the range high (775) and has started falling. The stock may go to the lower end of the range (670) and hence traders should be cautious.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

1) Q1 FY23 update: Tata Elxsi revenues from operations at Rs. 725.9 Cr, up 6.5% QoQ, up 30% YoY on constant currency basis. PAT at Rs. 184.7 Cr, growing 15.4% QoQ and 62.9% YoY.

2) Adani Ports & Special Economic Zone Ltd. Said a joint venture led by it won an Israel government’s tender to buy the Haifa Port for 4.1 billion shekel ($1.2 billion).

3) Cipla health to acquire Endura Mass, a renowned nutritional supplement brand in the category of weight gain.

4) HDFC Bank, ICICI Prudential are amongst the companies that will declare their Q1 results tomorrow.