Don't buy ICICI Bank: Sukhani

Excerpts from Markets Midday on CNBC-TV18 Watch the full show » RELATED NEWS ICICI Bank trips on selling pressure Buy ICICI Bank below Rs 500: Mathew ICICI Bank will remain under pressure: Bhambwani ALSO READ See previous views by Sudarshan Sukhani See what other Experts & Brokerages are saying about ICICI Bank See messages about ICICI Bank ICICI Bank BSE | NSE 10/02/12 Are Mutual Funds betting on ICICI Bank?

Technical Analyst, Sudarshan Sukhani is of the view that one shouldn't buy ICICI Bank .

Sukhani told CNBC-TV18, "There is no support in Reliance and obviously we can have different views. So it is like the Nifty, it will stop wherever it wants, I wouldn't bank on buying at Rs 1,740 that's what it means."
 
He further added, "ICICI Bank is now getting into an area where it gets ready for a very sharp upside bounce. So you don't buy it now but investors and traders need to watch it carefully for any sign of strength."
 
" Bharti remains in a trading range, it's a 5% cut but it is still inside a range. It is not going to go much lower; it is not going to go higher either. So it's not a trading opportunity."

Disclosure: Analyst doesn't hold the above stocks.