Today's pick is ICICIBANK (NYSE:IBN). The stock started the year with a downward move to reach Rs. 800 levels. After finding support for a couple of weeks the stock started its up-ward movement. It saw the 52 weeks high of Rs. 1,210 in February, but since then was on a down-trend to find support on the trend-line. In the last three months, the stock moved +2% same as that of the Nifty's.
ICICIBANK has a historical volatility in the range of 0.3 to 0.8. The scrip's volatility is currently in the lower end of the range.
Analysts have positive expectations regarding this stock. Less than expected earnings might hit the street expectations in the coming reviews and might impact the stock as well.
Given these technicals, we suggest a short-term Hold. A long-term call could be taken depending on the price action around Rs. 1,200 levels. It is also suggested to have tight trailing stop-losses level to book profits in case of a sudden trend-reversal.
This article first appeared on Your Money@StockViz.biz.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.