VALENTINE PICK 2025 by Choice Broking Ltd
ICICI BANK
Buy ICICIBANK @ 1254 & add Upto 1220 the Target of 1380/ 1445
ICICI Bank is currently trading at Rs 1,254 after correcting nearly 12% from its recent swing high over the past two months. The stock has maintained a strong long-term uptrend, forming higher highs and higher lows within a Rising Channel on the weekly timeframe. Recently, it has shown signs of reversal by rebounding from the lower boundary of this channel, indicating the potential for further upward momentum.
Key resistance levels and upside targets are identified at Rs 1,380 and Rs 1,445. On the downside, strong support is evident around Rs 1,190. Additionally, ICICI Bank has bounced from its medium-term 50-day EMA and is currently trading near its shortterm 20-day EMA. A sustainable move above these levels would further confirm bullish strength and a continuation of the uptrend.
Given the current technical setup, a buying opportunity on dips up to Rs 1,220 can be considered with a well-defined risk management approach. Traders targeting Rs 1,380 and Rs 1,445 should ensure appropriate stop-loss measures are in place to manage risk effectively. So based on the above technical structure, we are recommending a buy position in the stock for the medium to long term.
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