This document contains the technical analysis of the ICICI bank stock as per the movement of the stock in NSE Nifty. The analysis covers Moving Average, MACD, ROC, RSI, and Parabolic SAR, each indicator provided a detailed technical understanding of the sock over the period of past one year. It is intended to aid the analysis of ICICI stock as a potential candidate for a securities portfolio. Technical Charts
The graphs below depict the plots of various technical indicators for the ICICI bank stock as per its one year performance in the NSE Nifty. The Red and Green dotted lines indicate the parabolic SAR and the two grey lines form the Bollinger Bands. Last Trade Change Prev Close Open Bid Ask
744.85INR -12.35(1.63%) 757.20 765.00 744.85 744.85
1. Exponential Moving Average - EMA
Both the 100 days EMA and 200 days EMA show an upward trend from April 2009. This, compounded by the fact that the stock is trading above the moving averages as on 11th August, is a good indication for a long position in the stock. Also, the 100 days EMA has moved above the 200 days EMA and the two seem to be diverging, indicating a good upward momentum for the stock.
2. Moving Average Convergence Divergence – MACD
Both the MACD and the Signal line have mostly stayed above the zero line since April 2009, further complimenting an upward momentum in the stock. Also, the MACD stayed above the signal line for most part of this period, suggesting a bullish trend. However, MACD has dipped below the signal line over the past 15 days, indicating marginal bearishness in the stock, which is more so a reflection of the market position over the past month. 3. Price Rate of Change – ROC
The ROC has stayed above the zero line since April 09 except for couple of major fluctuations which was caused due to a major decline in the price during the end of June09 which corrected itself almost immediately (This decline is not captured in the charts). This trend further indicates increasing upward...
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