Currently the stock is trading at 18% discount from all time high levels.
ICICI Bank (TF=W): 1. Double Top pattern is being formed on Weekly time frame. Stock has given closing below "M" pattern (Double Top) neckline. 2. Also, the stock has given closing below 50 Week Exponential Moving Average. 3. Selling Volumes are continuously increasing.
ICICI Bank (TF=D) 1. "M" Pattern breakdown. 2. Trading below 200 Days Exponential Moving Average
View Point: 1. Stock seems to be bearish seeing global cues and formation of Double Top pattern 2. Can be accumulated at lower levels for Long Term Investment
Addl Points: 1. FII/FPI have decreased holdings from 47.29% to 45.28% in Dec 2021 qtr 2. Mutual Funds have increased holdings from 27.21% to 28.20% in Dec 2021 qtr.
Note: 1. The above analysis is for educational purpose.