ICICI Bank has support at Rs 800: Gujral

Technical Analyst, Ashwani Gujral is of the view that ICICI Bank has support at Rs 800.

Gujral told CNBC-TV18, "For ICICI Bank Rs 800 is a very good support. If it can hold on to Rs 800 there could be a trading upside, that trading upside could take it to Rs 950 to Rs 1,000. But unless we can now sustain above an Rs 1,000, I think one should not be holding to these private banks."

He further added, "Kotak has reasonable support at Rs 525-550. At Rs 750-775 is the sort of the region where you would think about booking profits. Now this is not a buy and hold market anymore and we have to understand that and you have to play for the next 10-15-20% because things can turn around quite fast. So in today’s gap up people should avoid trying to buy, they should buy only on declines if they have to."