Any rally in ICICI shares an exit opportunity: analyst

Tue Nov 20, 2012 5:13pm IST

An employee's shadow is cast on the ICICI Bank logo at their headquarters in Mumbai April 26, 2012. REUTERS/Vivek Prakash/Files

An employee's shadow is cast on the ICICI Bank logo at their headquarters in Mumbai April 26, 2012.

Credit: Reuters/Vivek Prakash/Files

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Reuters Market Eye - Technical analysts say any rally in ICICI Bank (ICBK.NS) provides an opportunity to exit the stock after the lender has made a head and shoulders technical pattern.

AK Prabhakar, an analyst at brokerage Anand Rathi, says the stock could target 860 rupees from current levels after the H&S pattern.

ICICI shares ended up 0.3 pct at 1024.30 rupees.

ICICI Bank touched a low of 866.75 rupees on October 5, when a misplaced basket trade from a broker at Emkay Global Financial Services (EMKS.NS) led to a market plunge.

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