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The short-term outlook is bullish for the stock of ICICI Bank. The stock has been on the uptrend since mid-March with support in the ₹900-895 region. Dips to this support zone are likely to see fresh buyers coming into the market. As such, the downside can be limited. A fall below ₹895 is less probable and it will need a fresh negative trigger.
Read: ICICI Bank posts highest ever quarterly PAT of ₹9,122 crore
ICICI Bank share price can touch ₹980 over the next two weeks. The stock can target ₹1,000 over the next one month. Traders can go long at current levels and accumulate on dips at ₹905. Keep the stop-loss at ₹880 and trail it up to ₹930 as soon as the stock price reaches ₹945. Move the stop-loss further up to ₹960 when the ICICI Bank share price touches ₹975. Book profits at ₹990.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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