May 23, 2019 / 5:10 AM / 3 months ago

BUZZ-India's ICICI Bank scales record high; chart points to more upside

** Shares of ICICI Bank Ltd gain as much as 4.65% to an all-time high of 424.2 rupees

** Stock breaks above a resistance at 410.36 rupees, the 76.4% Fibonacci projection level of the uptrend from Feb. 26, 2016 low to Jan. 29, 2018 (Wave (A)) tmsnrt.rs/2Esk5tO

** Breakout suggests, stock may test the next resistance at 430.5 rupees, the 86.4% projection level

** Trend intensity(TI) indicator rises to 16, suggests a new uptrend has started for the stock

** MACD is positive and above its signal line

** Stock up 12.6% this year as of last close, outperforming broader NSE Index’s 8.1% gain in the same period

Reporting by Gaurav Dogra

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