ICICI Bank rallied sharply in the beginning of September and reached the levels of 1050-1100. Since then, it has stuck in this range for about a month.
On Friday though, it has broken that range and closed at 1044. Technically it is a breach of support range and likely to further go down. We anticipate it to first take some support at around 1020 and then at around 990-995. On the upside, one may put stop-loss at 1064.
Wishing you a profitable trading!!
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