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ICICI Bank has target of Rs 1070: Thacker

07 Apr 10 10:43 AM
Money Control
ICICI Bank has target of Rs 1070, says Mitesh Thacker, Technical Analyst,

Thacker told "After ICICI Bank price managed to break past levels of Rs 960-965 which were the earlier swing highs, we saw good price action for the last two days and the stock has gained nearly Rs 50 since then.”

He further added, “I expect the upward momentum to continue; test levels of around Rs 1,070 over the next few days and probably this could be one stock, which could even take the markets higher with it. So I think Rs 1,070 is the short-term target, which we are looking at, though in medium-term this stock could go even higher."

ICICI Bank has touched an intraday high of Rs 1,008.00 and an intraday low of Rs 997.00. At 09:55 hrs the share was quoting at Rs 1,005.90, up Rs 7.95, or 0.80%.

The company touched its 52 week high Rs 1,009.50 and 52 week low Rs 379.35 on 06 Apr, 2010 and 08 Apr, 2009, respectively. Currently, it is trading -0.36% below its 52-week high and 165.16% above its 52-week low. Market capitalisation stands at Rs 112,070.53 crore.