Moneycontrol
Last Updated : Jan 14, 2019 11:14 AM IST | Source: Moneycontrol.com

Buy ICICI Bank, target Rs 409: Rudra Shares

Prices are trading with higher top and higher bottom formation and can be bought for short term gain.

Moneycontrol Contributor @moneycontrolcom
 
 
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Rudra Shares & Stock Brokers

ICICI Bank has outperformed the Nifty and is trading at all-time high. Bank Nifty is clearly stronger than Nifty on the charts and trading above all major moving averages. We believe that private banks could perform in coming days. The stock has formed a bullish Head & Shoulder formation on daily chart and trading above neck line.

On the weekly chart, RSI has reversed from important support level and is suggesting that the upside momentum to continue further. Prices are trading with higher top and higher bottom formation and can be bought for short term gain.
Disclaimer: The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
First Published on Jan 14, 2019 11:14 am
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