Above Rs 630, ICICI Bank can go upto Rs 680: E Mathew

Technical Analyst, E Mathew is of the view that above Rs 630, ICICI Bank can go upto Rs 680.

Mathew told CNBC-TV18, "ICICI Bank, which was really at the receiving end, is still looking strong. I think the stock has got that strength to possibly cross the stiff resistance zone of Rs 625-630. Once it is able to take out Rs 625-630, we should see possibly a move even to as high as around Rs 680 but of course we will have to carefully monitor the move there."

He further added, "HDFC Bank is another stock, which is looking interesting though it has moved very smartly in the last two days. I still feel the stock has the ability possibly even to go to around Rs 1,080, which is of course a tough resistance zone. So these two stocks look promising and of course the market leader State Bank of India, SBI though it has been a slow mover, I think there is still steam in the stock. A possible target could be around Rs 1,350."

Disclosure: It is safe to assume that analyst & his clients may have an investment interest in the stocks/sectors discussed.