ICICI Bank can slip to Rs 500: Sukhani

Technical Analyst, Sudarshan Sukhani is of the view that ICICI Bank has down side target of Rs 500. 

Sukhani told CNBC-TV18, "ICICI Bank has broken down all support levels much earlier. A target of Rs 500 is within the striking distance and we have Rs 250-300 that of course means that the Nifty will do other things, so ICICI Bank doesn’t have a good chart at all."

He further added, "Tata Steel has been a big disappointment because the chart suggested initially that in its bull run, and it will ignore what ever happens to the Indian market. But quite evidently that hasn’t happened, it has broken down significant support levels and while it is difficult to say where it will end up, its no longer a buying opportunity and one have to get out of the stock when he/she can."