Technical Analyst, Rajat K Bose feels that if ICICI Bank falls below Rs 371 then you are looking at Rs 356 below that it can even hit Rs 327.

Bose told CNBC-TV18, "If ICICI Bank falls below Rs 371 then you are looking at Rs 356 below that it can even hit Rs 327. It is looking pretty weak and so is Axis Bank, if Rs 470 is broken, even Rs 450 would not act as a support , it can fall even further from there."

He further added, "The other bank, which is showing a marginally better strength as of now is HDFC Bank and if it falls below Rs 970, it can even hit Rs 920 and around that level it maybe bought with the stoploss below Rs 850 if you are looking at some kind of 5-6 weeks trading horizon."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.