This is a daily chart of ICICI. As can be seen from the vols, massive trading happened. There was rumour of ICICI having problems. Also heard was Lehman selling its holdings in the bank.
Let us see by Technical Analysis. Two days back there was a Head and shoulder pattern and volumes were increasing. So the insiders knew about Lehman troubles and had started selling. As soon as the neckline broke, it fell.
WHAT NOW- We feel that ICICI Bank is a good bet from hereon. One can buy around 500for a reasonable upside. Ofcourse, this is for the longer term. Seeing market conditions is advised before entering this stock.
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