Report On Fundamental And Technical Analysis Of Icici Bank Share 1m2u3q

Report on Fundamental & Technical Analysis of ICICI BANK

Recommendation ICICI BANK: BUY/HOLD

TARGET PRICE: 1200

Of

ICICI BANK Submitted to

Submitted by

Prof .Sridevi

Rammohan Atmakuri

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

ACKNOWLEDGEMENT

Nothing can be gained or acquired without hard work which leads to success. The success of my work is the amalgamation of my hard work, my knowledge and pain. We deeply grateful to my Prof SRI DEVI, who graciously spared her time to share her views and who‟s unstinted and cooperation enabled this project to see the light of the day. We were thankful and immensely obliged for her constant guidance and words of inspiration We were thankful to IT dep of IFIM Bschool who helped a lot in completion of project and provided the wifi & computer lab. For completion of our project we thankful to our in formats that provided us with required inputs and information which are the requisites of my project. Above all we have no words to express my gratitude to the almighty GOD who blessed us the wisdom and enlightened us to complete this project. Last but not the least, I specially wish all my friends a vote of thanks as without their valuable s this report would have not been possible

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Snap Shot of ICICI BANK

CODE ISIN Demat 52 HIGH 52 LOW MARKET CAP VOLUME

BSE 532174 INE090A01013 1173.65 804.40 172687

NSE INE090A01013 1170.00 712.00 1293364.96 2198705

ICICI Bank has reported better-than-expected numbers for 2QFY11.Results for the quarter are in line with our thesis that the bank would see an RoA improvement with improving margins, costs well managed, and significant asset quality improvement on a growing balance sheet. I reiterate Outperform rating with a target price of Rs. 1,200.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Analysis Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Fundamental Analysis A method of evaluating a security that entails attempting to measure its intrinsic value by examining related economic, financial and other qualitative and quantitative factors. Fundamental analysts attempt to study everything that can affect the security's value, including macroeconomic factors (like the overall economy and industry conditions) and company-specific factors (like financial condition and management). The end goal of performing fundamental analysis is to produce a value that an investor can compare with the security's current price, with the aim of figuring out what sort of position to take with that security (underpriced=buy, overpriced= sell or short). This method of security analysis is considered to be the opposite of technical analysis.

Economic analysis The economic analysis aims at determining if the economic climate is conclusive and is capable of encouraging the growth of business sector, especially the capital market. When the economy expands, most industry groups and companies are expected to benefit and grow. When the economy declines, most sectors and companies usually face survival problems. Hence, to predict share prices, an investor has to spend time exploring the forces operating in overall economy. Exploring the global economy is essential in an international investment setting. The selection of country for investment has to focus itself to examination of a national economic scenario. It is important to predict the direction of the national economy because economic activity affects corporate profits, not necessarily through tax policies but also through foreign policies and istrative procedures.

TOOLS FOR ECONOMIC ANALYSIS The most used tools for performing economic analysis are: Gross Domestic Product (GDP) Monetary policy and Liquidity Inflation Interest rates International influences Consumer sentiment Fiscal policy Influences on long term expectations Influences on short term expectations

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Analysis of Indian Economy

India's economy expanded 8.8% in the second quarter from a year earlier, compared to an 8.6% on-year expansion in the first, lifted by robust activity in manufacturing. Agricultural output along with strong development in the Industrial, Mining and banking sector have helped to boost the Indian economy. Agricultural output raised 2.8 per cent y-o-y thanks to improved harvests. Industrial production increased by 12% and in the mining sector by 9%. According to 2010 data the shares of banking sector value add in GDP has been increased 7.7% from 2.5%.The forecasters have assigned highest 29.6 per cent chance that it will fall in 6.0-6.9 per cent in 201011. They raised their forecasts slightly for agriculture growth to 4.0 percent from 3.5 percent, for industry to 9.0 percent from 8.1 percent and for services it was steady at 9.0 percent. The survey showed the economists expect GDP growth in the April-June quarter to be 8.1 percent up from 7.9 percent in the last survey. For the July-September quarter, GDP growth is placed at 8.3 percent. The Reserve Bank of India has stated that it had seen an annual growth of 8.5% steadily. The main priority of the Reserve Bank is to curb the ongoing inflation, which peaked at 11% last month. Interest rates have been increased by the banks to contain the inflation, but it could slow down the growth of the Indian economy in the coming months. But even thought there has been a rise in the interest rates there hasn‟t been much change in the distribution of loans, the Indian customer is hardly affected with the hiked interest rates.

SECTOR WISE COMPSITION OF GDP SECTOR 2005 2006 2007 2008 2009 2010 Agriculture 20% 20% 17% 17% 17% 15.80% Industry 26% 26% 29% 29% 28.20% 25.80% Services 54% 54% 54% 54% 54.90% 58.40% 100% 100% 100% 100% 100% 100%

Almost every sector of the economy is poised to grow faster and a 9 per cent growth in 2010-11 is not difficult if domestic policies and external factors do not come in the way. Expert expects that India s economy to grow by 8.1% in 2010 based on a steep gain in industrial output and resurgent private consumption investment and exports. Were these scenarios to continue growth would lift further to 8.3% in 2011 said Chief Economist. They also expect the Reserve Bank of India (RBI) to continue gradually raising interest rates and to keep a tight leash on liquidity to tame inflation. Recently RBI changed the repo rate from 5.75% to 6% and reverse repo rate 4.5% to 5%. CRR rate they keeping unchanged. This the six time I a year they revise key parameter to control inflation. Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Comparing GDP moves with S&P NIFTY of Past 10 Years

GDP IN US$ 1.6E+12 1.4E+12 1.2E+12 1E+12 8E+11 6E+11 4E+11 2E+11 0 yr 2001 yr 2002 yr 2003 yr 2004 yr 2005 yr 2006 yr 2007 yr 2008 yr 2009 yr 2010

S&P CNX NIFTY 7000

Axis Title

6000 5000 4000 3000 2000 1000 36892 37004 37111 37224 37335 37446 37558 37670 37782 37889 37998 38111 38217 38328 38439 38545 38657 38770 38882 38988 39100 39217 39324 39433 39546 39658 39772 39890 40004 40116 40231 40343

0

Above Graphs are GDP and S&P CNX NIFTY of past 10 years from 2001 to 2010 From above Graphs, we find that GDP of India and S&P CNX NIFTY moves in same direction. They have Strong Positive Correlation between them.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Inflation Inflation can be defined as a trend of rising prices caused by demand exceeding supply. Over time, even a small annual increase in prices of say 1 percent will tend to influence the purchasing power of the nation. In other words, if prices rise steadily, after a number of years, consumers will be able to buy only fewer goods and services assuming income level does not change with inflation. In 2010 favorable monsoons (the rains that fall from June to September) should lead to strong farm production which will help drive economic recovery and bring down food inflation. While inflation remains a concern economists expect it will recede in coming months. In our opinion I inflation should continue to recede from current double digits as food inflation comes down on the back of improved farm output and as the RBI s tightening measures tame nonfood inflation he said. Resurgent exports and capital inflows add to the positive story. year Inflation rate by I 2001 3.394 2002 4.158 2003 4.412 2004 3.018 2005 3.32 2006 7.269 2007 5.691 2008 7.692 2009 9.286 2010 13.725

Inflation rate by I 15

S&P CNX NIFTY

10 5 0

Inflation rate by I

36892 37126 37363 37599 37832 38064 38294 38526 38764 38996 39237 39468 39706 39955 40192

7000 6000 5000 4000 3000 2000 1000 0

From the Above charts, I found Inflation and Nifty are moving in same direction and they are Moderately correlated.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

INDIAN BANKING INDUSTRY ANALYSIS

Structure of the Indian banking system

The Indian banking system is financially stable and resilient to the shocks that may arise due to higher non-performing assets (NPAs) and the global economic crisis, according to a stress test done by the Reserve Bank of India (RBI). Globalization and liberalization of the Indian economy, and the interest of foreign banks to expand their presence in India through the inorganic route, have fuelled the growth of the banking industry.

The banking penetration calculated on the basis of total number of credit s to total population was 9.4 per thousand in 2007–08. Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK Significantly, the RBI has the tenth largest gold reserves in the world after spending US$ 6.7 billion towards the purchase of 200 metric tons of gold from the International Monetary Fund (IMF) in November 2009. The purchase has increased the country's share of gold holdings in its foreign exchange reserves from approximately 4 per cent to about 6 per cent. In the annual international ranking conducted by UK-based Brand Finance Plc, 20 Indian banks have been included in the Brand Finance® Global Banking 500. In fact, the State Bank of India (SBI) has become the first Indian bank to be ranked among the Top 50 banks in the world, capturing the 36th rank, as per the Brand Finance study. The brand value of SBI increased from US$ 1.5 billion in 2009 to US$ 4.6 billion in 2010. ICICI Bank also made it to the Top 100 list with a brand value of US$ 2.2 billion. The total brand value of the 20 Indian banks featured in the list stood at US$ 13 billion.

Market analysis There has been a gradual shift in business from public to private and foreign banks.

The banking system in India is dominated by Scheduled Commercial Banks (SCBs) with a panIndia presence. As of March 2009, SCBs controlled most of the assets, with the rest being controlled by a large number of small co-operative credit institutions with a very limited geographic reach. Within SCBs, public sector banks ed for 71.9 per cent of the assets and the rest was held by foreign banks and private sector banks.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK Growth of Indian Banking Industry Increasing emphasis by banks on fee-based services to boost income growth Favorable demographics and rising income levels Rising literacy rate, especially in rural India, has increased the need for banking. Between 2006 and 2026, the working population (25–60 years) is expected to increase from 675.8 million to 795.5 million giving rise to a favorable market for banks. Projected per capita GDP is expected to increase from US$ 380.8 in 2000–01 to US$ 2,097.5 in 2026, reflecting higher disposable income.

Significant latent demand for retail banking services, given a low penetration level of approximately 59 per cent. Key factors driving the growth of retail banking are„        

Any where‟, „any time‟ banking Improved processes and bundled product offerings Faster service Customer-specific products or offerings on a regular basis „Bank‟ customer has replaced „Branch‟ customer Focus on understanding customer needs or preferences Segmentation or differentiation of customers Customer-driven strategies.

Adoption of best practices from other countries  With an increasingly global footprint, the Indian banking industry has adopted certain global best practices such as International Financial Reporting Standards (IFRS) and Basel II. These not only position India at an international level, but also provide confidence to foreign players planning to establish businesses in India.  As of March 31, 2009, all commercial banks in India, excluding RRBs and local area banks, have become Basel II compliant.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK Major Developments The Monetary Authority of Singapore (MAS) has provided qualified full banking (QFB) privileges to ICICI Bank for its branch operations in Singapore. Currently, only SBI had QFB privileges in country. The Indian operations of Standard Chartered reported a profit of above US$ 1 billion for the first time. The bank posted a profit before tax (PAT) of US$ 1.06 billion in the calendar year 2009, as compared to US$ 891 million in 2008. Punjab National Bank (PNB) plans to expand its international operations by foraying into Indonesia and South Africa. The bank is also planning to increase its share in the international business operations to 7 per cent in the next three years. The State Bank of India (SBI) has posted a net profit of US$ 1.56 billion for the nine months ended December 2009, up 14.43 per cent from US$ 175.4 million posted in the nine months ended December 2008.

Government Initiatives 

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The government plans to invest US$ 3.63 billion into public sector banks to aid them for maintaining their capital adequacy ratio (CAR), as per the Union Budget presented by the Union Finance Minister in February 2010. Out of the total allocation, US$ 2.1 billion would be used for recapitalization of the public sector banks during April-June 2010 and US$ 1.5 billion will be invested during the rest of 2010-11. The RBI has allowed banks to make changes in the repayment schedules or drawdown without prior approval from the central bank. However, such a change could be made on the condition that the average maturity of the loan should remain the same. The move is expected to make external commercial borrowing (ECB) transactions easier. Transactions both through automatic and approval routes can take advantage of this change. Now, without the prior approval of RBI, Indian companies may borrow up to US$ 500 million in a year. Further, RBI also allowed domestic scheduled commercial banks to open up their branches in Tier III to Tier VI regions that have population of up to 49,999 without the prior permission of the central bank. Banks such as PNB and UCO Bank are planning to take advantage of this initiative and would open around 440 and 89 branches, respectively, in such regions. In its platinum jubilee year, the RBI, the central bank of the country, in a notification issued on June 25, 2009, said that banks should link more branches to the National Electronic Clearing Service (NECS). Ideally, all core-banking-enabled branches should be part of NECS. NECS was introduced in September 2008 for centralized processing of repetitive and bulk payment instructions. Currently, a little over 26,000 branches of 114 banks are enabled to participate in NECS.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

SWOT Analysis of banking sector of India

.

STRENGTH ■ Indian

banks have compared favorably on growth, asset quality and profitability with other regional banks over the last few years. The banking index has grown at a compounded annual rate of over 51 per cent since April 2001 as compared to a 27 per cent growth in the market index for the same period. ■ Policy makers have made some notable changes in policy and regulation to help strengthen the sector. These changes include strengthening prudential norms, enhancing the payments system and integrating regulations between commercial and co-operative banks. ■ Bank lending has been a significant driver of GDP growth and employment. ■ Extensive reach: the vast networking & growing number of branches & ATMs. Indian banking system has reached even to the remote corners of the country. ■ The government's regular policy for Indian bank since 1969 has paid rich dividends with the nationalization of 14 major private banks of India. ■ In of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets relative to other banks in comparable economies in its region. ■ India has 88 scheduled commercial banks (SCBs) - 27 public sector banks (that is with the Government of India holding a stake)after merger of New Bank of India in Punjab National Bank in 1993, 29 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 31 foreign banks. They have a combined network of over

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18.2% and6.5% respectively. ■ Foreign banks will have the opportunity to own up to 74 per cent of Indian private sector banks and 20 per cent of government owned banks.

WEAKNESS ■ PSBs

need to fundamentally strengthen institutional skill levels especially in sales and marketing, service operations, risk management and the overall organizational performance ethic & strengthen human capital. ■ Old private sector banks also have the need to fundamentally strengthen skill levels. ■ The cost of intermediation remains high and bank penetration is limited to only a few customer segments and geographies. ■ Structural weaknesses such as a fragmented industry structure, restrictions on capital availability and deployment, lack of institutional infrastructure, restrictive labour laws, weak corporate governance and ineffective regulations beyond Scheduled Commercial Banks (SCBs), unless industry utilities and service bureaus. ■ Refusal to dilute stake in PSU banks: The government has refused to dilute its stake in PSU banks below 51% thus choking the headroom available to these banks for raining equity capital. ■ Impediments in sectoral reforms: Opposition from Left and resultant cautious approach from the North Block in of approving merger of PSU banks may hamper their growth prospects in the medium term.

OPPORTUNITY ■ The market

is seeing discontinuous growth driven by new products and services that include opportunities in credit cards, consumer finance and wealth management on the retail side, and in fee-based income and investment banking on the wholesale banking side. These require new skills in sales & marketing, credit and operations. ■ Banks will no longer enjoy windfall treasury gains that the decade-long secular decline

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK in interest rates provided. This will expose the weaker banks. ■ With increased interest in India, competition from foreign banks will only intensify. ■ Given the demographic shifts resulting from changes in age profile and household income, consumers will increasingly demand enhanced institutional capabilities and service levels from banks. ■ New private banks could reach the next level of their growth in the Indian banking sector by continuing to innovate and develop differentiated business models to profitably serve segments like the rural/low income and affluent/HNI segments; actively adopting acquisitions as a means to grow and reaching the next level of performance in their service platforms. Attracting, developing and retaining more leadership capacity ■ Foreign banks committed to making a play in India will need to adopt alternative approaches to win the “race for the customer” and build a value-creating customer franchise in advance of regulations potentially opening up post 2009. At the same time, they should stay in the game for potential acquisition opportunities as and when they appear in the near term. Maintaining a fundamentally long-term value-creation mindset. ■ Reaching in rural India for the private sector and foreign banks. ■ With the growth in the Indian economy expected to be strong for quite some time especially in its services sector-the demand for banking services, especially retail banking, mortgages and investment services are expected to be strong. ■ the Reserve Bank of India (RBI) has approved a proposal from the government to amend the Banking Regulation Act to permit banks to trade in commodities and commodity derivatives. ■ Liberalization of ECB norms: The government also liberalized the ECB norms to permit financial sector entities engaged in infrastructure funding to raise ECBs. This enabled banks and financial institutions, which were earlier not permitted to raise such funds, explore this route for raising cheaper funds in the overseas markets. ■ Hybrid capital: In an attempt to relieve banks of their capital crunch, the RBI has allowed them to raise perpetual bonds and other hybrid capital securities to shore up their capital. If the new instruments find takers, it would help PSU banks, left with little headroom for raising equity. Significantly, FII and NRI investment limits in these securities have been fixed at 49%, compared to 20% foreign equity holding allowed in PSU banks.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

THREATS ■ Threat of stability of the system: failure of some weak banks has often threatened the stability of the system. ■ Rise in inflation figures which would lead to increase in interest rates. · ■ Increase in the number of foreign players would pose a threat to the PSB as well as the private players. ■ Increase in CRR rate

Exploit Strategies  In Indian Most of Financial system is dominated by unorganized sector, banks can use this opportunity to increase in its turnover  Financial INCLUSION  Simplifying banking process to attract Search Strategies  Looking for new products  Introducing new services  Increase value chain for customer

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

PORTER’s 5 Force Model for INDIAN BANKING INDUSTRY

Barriers to entry  Product differentiation very difficult  Licensing requirement

Bargaining power of Suppliers is very low  Nature of suppliers  Few alternatives  RBI rules and regulations  Suppliers are not concentrated  forward integration

Threat of competitors       

Large no of banks High market growth rate Low switching costs Undifferentiated services High fixed cost  High exit barriers

Threat of Substitute  Non banking financial sector increasing rapidly  Deposits in posts  Stock Market  NBFC  Mutual Fund

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Bargaining power of consumer very high  Large no. of alternatives  Low switching costs  Undifferentiated services  Full information about  the market

Report on Fundamental & Technical Analysis of ICICI BANK POTENTIAL ENTRY OF NEW COMPETITORS Reserve Bank of India has laid out a stagnant rules and regulation for new entrant in Banking Industry. We expect merger and acquisition in the banking industry in near future. Hence, the industry is less porn of new competitor. Barriers to an entry in banking industry no longer exist. So lots of private and foreign banks are entering in the market. Competitors can come from an industry to „disinter mediate‟ bank product differentiation is very difficult for banks and exit is difficult. So every bank strives to survive in highly competitive market so we see intense competitive can mergers and acquisitions. Government policies are ive to start new bank. There is less statutory requirement needed to start a new venture. Every bank to tries to achieve economies of scale through use of technology and selecting and training manpower. There are public sector banks, private sector and foreign banks along with non banking finance companies competing in similar business segments

Rivalry among Competing Firms Rivalry among competitors is very fierce in Indian Banking Industry. The services banks offer is more of homogeneous which makes the Company to offer the same service at a lower rate and eat their competitor market‟s share. Market Players use all sorts of aggressive selling strategies and activities from intensive ment campaigns to promotional stuff. Even consumer switch from one bank to another, if there is a wide spread in the interest. Hence the intensity of rivalry is very high. The no of factors has contributed to increase rivalry those are. 1. A large no of banks There is so many banks and non financial institution fighting for same pie , which has intensified competition? 2. High market growth rate India is seen as one of the biggest market place and growth rate in Indian banking industry is also very high. This has ignited the competition. 3. Homogeneous product and services The services banks offer is more of homogeneous which makes the company to offer the same service at a lower rate and eat their competitor market‟s share. 4. Low switching cost Costumers switching cost is very low, they can easily switch from one bank to another bank and very little loyalty exist. 5. Undifferentiated services Almost every bank provides similar services. Every bank tries to copy each other services and technology which increase level of competition. 6. High exit barriers High exit barriers humiliate banks to earn profit and retain customers by providing world class services. 7. Low government regulations There are low regulations exist to start a new business due LPG policy adopted by India.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK BARGAINING POWER OF SUPPLIERS Banking industry is governed by Reserve Bank of India. Reserve Bank of India is the authority to take monetary action which leads to direct impact on circulation of money in the Economy. The rules and regulation lay down by RBI. Suppliers of banks are depositors .these are those people who have excess money and prefer regular income and safety. In banking industry suppliers have low bargaining power. 1. Nature of suppliers Suppliers of banks are those people who prefer low risk and those who need regular income and safety as well. Banks best place for them to deposits theirs surplus money. 2. RBI rules and regulations Banks are subject to RBI rules and regulations .bank have to behave in a way that RBI wants. So RBI takes all decisions related to interest rates. This reduce bargaining power of suppliers. 3. Suppliers not concentrated Banking industry suppliers sure not concentrated. There are numerous with negligible portion of offer .so this reduce their bargaining power.

BARGAINING POWER OF CONSUMERS In today world, Customer is the King. Banks offers different services According to clients need and requirement. They offer loans at Prime Lending Rate (PLR) to their trust worthy clients and higher rate to others clients. Customers of banks are those who take loans and uses services of banks. Customers have high bargaining power. These are 1. Large no of alternatives Customers have large no of alternatives, there are so many banks, which fight for same pie. There are many non financial institutions like icici, hdfc, and ifci, etc. which has also jump into these business .there are foreign banks , private banks, co-operative banks and development banks together with specialized financial companies that provides finance to customers .these all increase preference for customers. 2. Low switching cost Cost of switching from one bank to another is low. Banks are also providing zero balance and other types of facilities. They are free to select any banks service. Switching cost are becoming lower with internet banking gaining momentum and a result customers loyalties are harder to retain. 3. Undiffenciated service Bank provide merely similar service there are no much diffracted in service provides by different banks so, bargaining power of customers increase. They cannot be charged for differentiation. 4. Full information about the market Customers have full information about the market due to globalization and digitalization Consumers have become advance and sophisticated .they are aware with each market condition so banks have to be more competitive and customer friendly to serve them.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK POTENTIAL DEVELOPMENT OF SUBSTITUTE PRODUCTS Every day there is one or the other new product in financial sector. Banks are not limited to tradition banking which just offers deposit and lending. In addition, today banks offers loans for all products, derivatives, For Ex, Insurance, Mutual Fund, Demit to name a few. The wide range of choices and needs give a sufficient room for new product development and product enhancement. Substitute products or services are those, which are different but satisfy the same set of customers. In private banking industry following are the substitutes:  NBFC: Non-banking financial Institutions play an important role in giving financial assistance. Mobilization of financial resources outside the traditional banking system has witnessed a tremendous growth in recent years in the India. NBFC is a close substitute of banking in respect of raising funds. Borrower can easily raise funds from NBFC because it requires less formal procedure for getting funds compare to private banks. 

Post Office Products: Post office is also providing some service like fixed deposit facility, saving , recurring etc. The interest rate of saving is higher than private banks. It is fully secured by the government so people who do not want to take risk for them post office saving is good substitute.

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Government Bond: Govt. Bond also attracts savings from the general public. It is less risky and more secured as compare to savings in private banks.

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Mutual Funds: Mutual funds are also now proving as good substitutes for banks. They assure for providing high return with less time in comparison of banks. The istrative expenses are also very low as compared to banks. Investment in Mutual funds is more flexible than investment in banks.

 Stock Market: People who are ready to bear risk and wants a high return on their investment, stock market is a good substitute for them. Day by day investors are moving towards stock market as interest rate in banks are decreasing. So now stock market has proved as a big competitor for baking sector.  Debentures: Debentures is also proved as a good substitute of bank‟s fixed deposit as return on debenture is fixed and high. There are different types of debentures, which attract various classes of investors. 

Other Investment Alternatives: Now common people‟s attraction is shifting from banks to other various alternatives such as gold, precious metals, land, small savings etc. As we can see the growing trend in these alternatives in comparison of decreasing interest rates in banks.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

PEST analysis of Indian Banking Industry

PEST analysis stands for "Political, Economic, Social, and Technological analysis" and describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. Some analysts added Legal and rearranged the mnemonic to SLEPT inserting Environmental factors expanded it to PESTEL or PESTLE, which is popular in the UK. But for our analysis we are taking only PEST analysis stands for Political, Economic, Social, and Technological analysis"

Political analysis of Indian Banking Industry  Indian banking industry is totally dominated by political factors of India  Where the Manmohan is the prime minister for second ,he is the man who leads for LPG of INDIA  From 1990 the banking industry has strong from government  But banking industry is regulated and Dominated by RBI Economic analysis of Indian banking Industry  FROM LPG India is moving on a steady GDP growth and trying to touch double digit growth  India also encouraging FDI and FIIs for investment in India  Percentage of youth in employment increased a lot in banking sector Social analysis of Indian banking Industry  Recently Indian banks are entering in Micro Finance to help the lower levels of economy  Some Banks are stated CSR activity in metros  Banks try to add value service to customers other than basic banking activity Technological analysis of Indian Banking Industry     

Due to IT revolution , all Banks went for AUTOMATION of Bank Banking industry is most important industry which uses the technology at MAXS Banks started everything online with the help of technology Banks are one of the major source of income for IT companies in India Banks even started SMS banking and internet banking

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Industry life cycle of banking industry Banking Industry in India

 The growth in the Indian Banking Industry has been more qualitative than quantitative and it is expected to remain the same in the coming years. Based on the projections made in the "India Vision 2020" prepared by the Planning Commission and the Draft 10th Plan, the report forecasts that the pace of expansion in the balance-sheets of banks is likely to decelerate. The total asset of all scheduled commercial banks by end-March 2010 is estimated at Rs 40, 90,000 crores. That will comprise about 65 per cent of GDP at current market prices as compared to 67 per cent in 2002-03. Bank assets are expected to grow at an annual composite rate of 13.4 per cent during the rest of the decade as against the growth rate of 16.7 per cent that existed between 1994-95 and 2002-03. It is expected that there will be large additions to the capital base and reserves on the liability side.  The Indian Banking Industry can be categorized into non-scheduled banks and scheduled banks. Scheduled banks constitute of commercial banks and co-operative banks. There are about 67,000 branches of Scheduled banks spread across India. As far as the present scenario is concerned the Banking Industry in India is going through a transitional phase.  The Public Sector Banks (PSBs), which are the base of the Banking sector in India for more than 78 per cent of the total banking industry assets. Unfortunately they are burdened with excessive Non-Performing assets (NPAs), massive manpower and lack of modern technology. On the other hand the Private Sector Banks are making tremendous progress. They are leaders in Internet banking, mobile banking, phone banking, ATMs. As far as foreign banks are concerned they are likely to succeed in the Indian Banking Industry.

Despite intense competition and high inflationary pressures, India's sector will continue to show high growth owing to the country's strong economic expansion. Growth in India's banking sector will remain high, bolstered by sound economic growth prospects and expecting credit growth of about 20 per cent in the next fiscal year. The growth in banking would happen despite high domestic inflation and intense competition in the sector, it added. So, I conclude that the Indian banking industry is in growth stage from the above information

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Company Analysis

About ICICI BANK ICICI Bank (formerly Industrial Credit and Investment Corporation of India) is a major banking and financial services organization in India. It is the third largest bank in India and the largest private sector bank in India by market capitalization. ICICI Bank is India's second-largest bank with total assets of Rs. 3,634.00 billion (US$ 81 billion) at March 31, 2010 and profit after tax Rs. 40.25 billion (US$ 896 million) for the year ended March 31, 2010. The Bank has a network of 2,044 branches and about 5,546 ATMs in India and presence in 18 countries. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management. ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). The Bank is expanding in overseas markets and has the largest international balance sheet among Indian banks. ICICI Bank now has wholly-owned subsidiaries, branches and representatives offices in 19 countries, including an offshore unit in Mumbai. This includes wholly owned subsidiaries in Canada, Russia and the UK (the subsidiary through which the HiSAVE savings brand is operated), offshore banking units in Bahrain and Singapore, an advisory branch in Dubai, branches in Belgium, Hong Kong and Sri Lanka, and representative offices in Bangladesh, China, Malaysia, Indonesia, South Africa, Thailand, the United Arab Emirates and USA. Overseas, the Bank is targeting the NRI (Non-Resident Indian) population in particular.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

ICICI BANK Acquired BOR Based on the valuation report prepared by Haribhakti & Co., Chartered ants, the Board of Directors decided the share exchange ratio. This ratio has been decided and accepted at the rate of one share of ICICI Bank for every 4.72 shares of Bank of Rajasthan. On August 6, 2010 The Reserve Bank of India on August 6, approved Bank of Rajasthan Ltd‟s merger with ICICI Bank Ltd, India‟s largest private sector lender. “All branches of Bank of Rajasthan will function as branches of ICICI Bank with effect from 13 August,‟‟ said an RBI statement.

Post Impact of Acquisition  The amalgamation is of strategic importance to ICICI Bank and augurs well for the bank‟s strategy of moving towards a branch-centric and customer-centric model. It would add ~23% to ICICI Bank‟s current branch network, already the largest among private players.  The deal would strengthen ICICI Bank‟s presence in the Northern and Western parts of the country.  Based on the due diligence done by ICICI Bank, the overall asset quality of BoR remains satisfactory. Of 80% of the advances book reviewed by ICICI Bank, 40% of the advances are to PSUs and their asset quality remains satisfactory.  CASA has improved from 27.4% in March 2009 to 30%+ in March 2010 as the savings bank deposits accretion during the year has been strong for BoR  Policies and assumptions pertaining to pension and other employee benefits will be realigned as per ICICI Bank books. There could be some impact on of employee wage hike.  BoR operates on technology platform – ‟Finacle‟, same as ICICI Bank, this is a positive.  Share prices of the Bank of Rajasthan (BoR) observed a 20% hike due to acquisition news.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

SWOT Analysis of STRENGTHS 1. BRAND NAME: ICICI Bank has earned a reputation in the market for extending quality services to the market vis-Ã -vis its competitors. It has earned a strong Brand name in banking in a very short span of time. 2. Market share: ICICI bank is the second largest bank after SBI. Its market share is the most important strength of the company. 3. HUGE NETWORK: ICICI Bank has the highest number of linked branches in the country. The bank operates through a network of 450 BRANCHES AND over 1800 ATMs across India, thus enabling them to serve customer in better way. 4. DIVERSIFIED PORTFOLIO: ICICI Bank has all the products under its belt, which help it to extend the relationship with existing customer. ICICI Bank has umbrella of products to offer their customers, if once customer has relationship with the bank. Some Products, which ICICI Bank is offering are: >Retail Banking >Business Banking >Merchant Establishment Services (EDC Machine) >Personal loans & Car loans >Demat Services with E-Broking >Mutual Fund (ICICI Bank is the Distributor of all Mutual Fund) >Insurance >Housing Loans 5. SALARY : One very interesting thing that we have observed in our study is that ICICI is having an edge over other banks in case of Salary . Most of the companies are having their Salary with ICICI even if their Current is with any other Bank. This is mainly because of the huge network of ATMs and branches of ICICI. 6. WORKING HOURS: ICICI is the only bank which is having its working hours from 8 to 8 which is one of the major strength of ICICI Bank with respect to IT & ITES Industry. As most of the IT & ITES companies are global players and their Parent company is in US, so they have to work according to their office time. Thus some have their Office time in the morning and some have it in the evening so if the working hour of the bank is 8 to 8 it is very convenient for them. 7. TREASURY DEPARTMENT: ICICI is the first private bank to have a treasury department. So customers can get the best rates for foreign exchange. 8. AGGRESSIVE MARKETING: ICICI Bank is known for its aggressive marketing of its Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK products. Recent ads like celebrating bdays of the customer in the banks; this gives ICICI an edge over other banks. 9. TECHNOLOGY: From its inception, ICICI Bank has adopted a policy of selecting internationally proven and specialized Packaged Systems for its technology. ICICI bank technology platform has been acknowledged globally as one of the best in of robustness, flexibility and cost efficiency. ICICI Bank is in a position to leverage this platform to further build cost and service advantage.

WEAKNESS 1. TRANSACTION COST: ICICI Bank charges high cost for its transactions. Through our data analysis we have find out that most of the small companies prefer nationalized banks only because of this cost factor. Also the group has found out that there are companies which are going for multi bank system i.e. they are using only those facilities of ICICI Bank which are provided at cheaper rates (read Salary ) and for other services they are going to nationalize banks and MNCs (read Forex). So there exists a huge potential for ICICI Bank if they are ready to make their transaction cost flexible. 2. FOCUS ONLY ON HIGH END CUSTOMERS: The bank targets only the top bracket of clients and does not cater to the needs of small customers. Due to this reason the bank may sometimes loose good clients. 3. DEFENSIVE APPROACH IN LENDING: ICICI Bank has a defensive approach in lending. Mainly to IT & ITES companies Bank do not provide loan as these companies are not having collaterals so bank hesitate in giving loans to them. Because of this policy companies prefer nationalized banks and ICICI Bank in turn sometimes loose potential customers. 4. LITTLE PRESENCE OUTSIDE INDIA: ICICI Bank is having little presence Outside India, because of which companies prefer MNC Bank, mainly Citibank. So if ICICI Bank tries to emerge outside India then it has a huge potential of customers. 5. POOR CUSTOMER CARE/SERVICE: With its aggressive marketing ICICI Bank is rapidly increasing its customer base. They are not however, increasing the number of employees accordingly. This is leading to deterioration of the standard of customer service.

OPPORTUNITIES 1.Rural segment: ICICI bank as lot of untapped market in rural areas. This is one of the most important opportunities for the bank 2. Dissatisfied Customers of Other Banks: The group from its survey and analysis of IT Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK companies has found out that there are many companies which are not satisfied with its current bank, so ICICI with its superior service quality and long working hours can capture those customers. 3. Remittances: From the analysis group has also found out that ICICI bank has very little presence as far as the EEFC is concerned. Companies prefer to bank with MNCs (which have greater presence in the foreign countries) and nationalized banks (which according to the companies provide lower transaction rates) to get their inward remittances in spite of ICICI being providing one of the most competitive rates. So the bank can promote its EEFC better and get the key to the door of huge potential market. 4. Business advising for smaller Players: The analysis has also indicated that the concept of business advising though very popular with the higher end players is virtually nonexistent in the lower end of the market. ICICI should take this opportunity to provide business advising to the smaller companies at competitive rates and try to take the first mover advantage.

THREATS 1) Advent of MNC banks: Large numbers of MNC banks are mushrooming in the Indian market due to the friendly policies adopted by the government. This can increase the level of competition and prove a potential threat for the market share of ICICI bank. 2) Dissatisfied Customers: The analysis indicated that though most of the companies are satisfied with the products offered by ICICI bank but the poor customer / service is creating a lot of dissatisfaction among the customers, this can prove to be a serious problem as far as the market reputation of the bank is concerned and cane be a major threat in future business acquisition. 3) Ever improving nationalized banks: With PSU banks like SBI going all out to compete with the private banks and government giving them a free hand to do so; it can prove to be serious threat for banks like ICICI.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Key ratios for analysis of bank performance Current Ratio

Current Ratio(x) 0.6 0.43

2006

0.46

0.47

2008

2009

0.4

2007

2010

Current ratio measures liquidity of the firm. It represents a margin of safety available to the creditor. High current ratio indicates that firm is liquid and able to pay current liability. From 2007, there is continuing growth of Current ratio which shows increase of current assets, which is good sign for growth of ICICI bank. Quick Ratio

Quick ratio of ICICI Bank 46.66 42.66

26.86

23.33

22.24

2006

2007

2008

2009

2010

Quick Ratio measures the ability of a company to use its near cash or quick assets to immediately extinguish or retire its current liabilities. From above chart we can say easy that there is huge growth of Quick ratio on YOY.It will reflect the liquidity of ICICI Bank.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK EPS

Earning Per share OF ICICI Bank 34.59

37.37 33.76

36.1

28.55

2006

2007

2008

2009

2010

EPS is one of the most important ratios to measure net profit earn per share. Steady growth of EPS is indicating a good profitability. Earnings per share of ICICI bank are having a constant growth.EPS is the one of the major reason to attract a huge investors.

Loans/Deposits ratio

Loans/Deposits(x) of ICICI BANK 0.5 0.45 0.4 0.35 0.3 0.25 0.2 0.15 0.1 0.05 0 2006

2007

2008

2009

2010

Loan/Deposit ratio explains what portions of deposits are utilitized.coming to ICICI case there are lot ups and down in the ratio. Loans/Deposits ratio is Moderate for ICICI bank.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Intra Industry Comparison EPS YEAR SBI PNB ICICI ALLAHABAD BANK

2010 144.37 123.86 36.1 27.01

2009 143.67 98.03 33.76 17.21

2008 106.56 64.98 37.37 21.82

2007 86.29 48.84 34.59 16.79

EPS SBI 144.37 123.86

PNB

ICICI

ALLAHABAD BANK

143.67 106.56

98.03

86.29 64.98

36.1

27.01

2010

33.76

37.37 17.21

2009

48.84 21.82

2008

34.59

16.79

2007

We can see that EPS of ICICI is not higher than peer group. Bt EPS should not be one parameter to measure of bank. Because outstanding share will be one reason i.e. different bank outstanding share is different. But it is one of the main parameter to be considered by the investor.

Payout Ratios year SBI PNB ICICI ALLAHABAD BANK

2010 20.78 17.76 33.24 20.36

2009 20.19 20.40 32.58 20.34

Rammohan Atmakuri, IFIM Bschool, Bangalore.

2008 20.18 20.01 29.44 11.46

2007 16.22 20.48 28.91 17.87

Report on Fundamental & Technical Analysis of ICICI BANK

PayOut ratios SBI

PNB

33.24 20.78

ALLAHABAD BANK

32.58 20.36

17.76

ICICI

20.19 20.40

29.44 20.34

28.91

20.18 20.01

16.22

11.46

2010

2009

20.48

2008

17.87

2007

Payout ratio is a ratio which shows as% of DPS from EPS. Payout ratio is ratio where all investors are most concern. In the Peer group, ICICI payout ratio out performance the other banks

P/E RATIO YEAR

2010

2009

2008

2007

SBI

14.4

7.42

15

10.86

PNB

8.18

4.19

7.82

9.66

ICICI

26.39

9.85

20.61

24.67

5.28

2.26

3.51

4.33

ALLAHABAD BANK

P/E ratio SBI

PNB

ICICI

ALLAHABAD BANK

26.39

24.67

20.61 15

14.4 8.18

2010

5.28

7.42

9.85 4.19

10.86 9.66

7.82

2009

4.33

3.51

2.26 2008

2007

The PE ratio reflects the price currently being paid by the market for each rupee of currently reported EPS. In other words, the PE ratio measures investor‟s expectations and the market appraisal of the performance of the firm. P/E ratio is fluctuate time to time because market price on of the reason. P/E ratio of ICICI BANK is the highest compared with its Peer group. The main reason for higher P/E ratio is HIGHER SHARE PRICE AND LOW EPS. Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Technical Analysis

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Technical Analysis Technical analysis is also frequently used as a supplement to fundamental analysis. Technical analysis is based on the economic premise that forces of demand and supply determine the pattern of market price and the volume of trading in a share. The greater the demand for a company‟s shares, the higher its market price. The greater the supply of a company‟s shares in the market, the lower the market price. The triggers for this demand and supply could also be the fundamental news on the company. Technical analysis hopes to capture a price trend from the previous traded prices and uses this trend to make an investment decision. The most commonly used charts are.  Line Charts / Line and Volume Charts  Bar Charts  Point-and-Figure Charts  Candle Stick Charts.

Bar Charts: The bar chart gives the chartist information on price changes at a time. In this, the high, low, open, close share price or index level is plotted against time.

Bar Chart of ICICI Bank 1200

1000

800

600

400

200

0 1-Apr-10

1-May-10

1-Jun-10

Rammohan Atmakuri, IFIM Bschool, Bangalore.

1-Jul-10

1-Aug-10

1-Sep-10

Report on Fundamental & Technical Analysis of ICICI BANK In the Chart the small bubbles are the closing price of the Infosys share for the particular day. On the vertical line the top shows the high price for the day and down tells the lowest price for the day. If the bubble in the middle of the vertical line then it tells the close price is in between the low and high prices of the particular day.

Candle Stick Chart: Candle Stick Chart can be used to identify price patterns, and are drawn from opening, high, low, and closing data for a specific period such as an hour, day, or week. A Candle consists of two parts or vertical extensions, the real body, i.e the rectangle, and the shadow or wick. The top and bottom of the rectangle are determined by the opening and closing prices. If the closing price is above the closing price, the rectangle is white, on the other hand if the closing price is below the opening, the rectangle is blackened. The high and low for the day are wicks at the top and bottom of the rectangle. Bullish Patterns Long white (empty) line: This is a bullish pattern. It occurs when prices open ear the low and close significantly higher, near the periods high. Hammer: A hammer is bullish, if it occurs after a significant downtrend. It is identified by a small real body (i.e. a small range between the open and closing prices) and a long lower shadow (i.e., the low is significantly lower than the open, high, and close). The body can be empty or dark. Piercing Line: This is a bullish pattern and the opposite of a dark cloud cover. The previous formation is a long black body and the next formation is a long white body. Morning Star: This pattern signifies a potential bottom. The star indicates a possible reversal and the bullish (empty) body confirms this. The star fallows a black body. Bearish Patterns: Long black (filled-in) line: This is a bearish line. It occurs when prices open near the high and close significantly lower, near the periods low. Hanging Man: These lines are bearish if they occur after a significant up trend. They are identified by small real bodies (ie, a small range between the open and closing prices) and a long lower shadow (ie, the low is significantly lower than the open, high, and close). The bodies can be empty or filled in. Dark cloud cover: This bearish pattern is more significant if the second black body is below the center of the previous body. Evening Star: This pattern signifies a potential top. The star indicates a possible reversal and the bearish (black) body confirms this. The star fallows an empty body.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Candle Stick Chart of ICICI BANK 1200 1000 800 600 400 200

30-Aug-10

23-Aug-10

16-Aug-10

9-Aug-10

2-Aug-10

26-Jul-10

19-Jul-10

12-Jul-10

5-Jul-10

28-Jun-10

21-Jun-10

14-Jun-10

7-Jun-10

31-May-10

24-May-10

17-May-10

10-May-10

3-May-10

0

Trend Analysis: In the trend analysis we can find the down trend, sideway trend and up trend. In the down trend we can observe that the price of the share can be fall down continuously. In the sideway trend we can observe that the price of the share can move in up and downs with a small changes in the price for a particular period. In the uptrend we can observe that the price of the share can be in bullish way or in move up continuously for a particular period.

ICICI BANK Closing Price 1600 1400 1200 1000 800 600 400 200 0 1-Sep-05

1-Sep-06

1-Sep-07

Rammohan Atmakuri, IFIM Bschool, Bangalore.

1-Sep-08

1-Sep-09

1-Sep-10

Report on Fundamental & Technical Analysis of ICICI BANK

and Resistance: Once you understand the concept of a trend, the next major concept is that of and resistance. You'll often hear technical analysts talk about the ongoing battle between the bulls and the bears, or the struggle between buyers (demand) and sellers (supply). This is revealed by the prices a security seldom moves above (resistance) or below (). is the price level through which a stock or market seldom falls. Resistance, on the other hand, is the price level that a stock or market seldom sures.

Formula of and resistance level for intraday trading R1 (Resistance level 1) =2*P-L S1 ( level 1) =2*P-H R2 (Resistance level 2) =P+R1-S1 S2 ( level 2) =P+S1-R1 R3 (Resistance level 3) =H+2(P-L) S3 ( level 3) =L-2(H-P) FOR 26th Aug FOR 26th Aug FOR 26th Aug FOR 27th Aug FOR 27th Aug (Forecast) FOR 27th Aug (Forecast) FOR 27th Aug (Forecast) FOR 27th Aug (Forecast) FOR 27th Aug (Forecast) FOR 27th Aug (Forecast) FOR 27th Aug (Forecast) FOR 27th Aug (Forecast) FOR 27th Aug (Forecast)

(High+Close+Low)/3 High+2×(Pivot-Low) Pivot+(R1-S1) 2×Pivot-Low 2×Pivot-High Pivot-(R1-S1) Low-2×(High-Pivot)

Where Pivot (P) = (C+H+L)/3 Close = C High = H Low = L High Low Close Price Pivot Point Resistance 3 Resistance 2 Resistance 1 1 2 3 High Price Low Price Close Price

995 2796.5 983.55 984.883 1012.57 1003.78 993.667 974.767 965.983 955.867 990 953.25 957.45

and resistance analysis is an important part of trends because it can be used to make trading decisions and identify when a trend is reversing. For example, if a trader identifies an important level of resistance that has been tested several times but never broken, he or she may decide to take profits as the security moves toward this point because it is unlikely that it will move past this level. and resistance levels both test and confirm trends and need to be monitored by anyone who uses technical analysis. As long as the price of the share remains between these levels of and resistance, the trend is likely to continue. It is important to note, however, that a break beyond a level of or resistance does not always have to be a reversal. For example, if prices moved above the resistance levels of an upward trending channel, the trend have accelerated, not reversed. This means that the price appreciation is expected to be faster than it was in the channel.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Moving Averages Moving averages are used to help identify the trend of prices. By creating an average of prices that “moves” with the addition of new data, the price action on the security being analyzed is “smoothed”. In other words, by calculating the average value of a share or indicator, day to day fluctuations are reduced in importance and what remains is a stronger indication of the trend of prices over the period being analyzed. The word “Moving” refers to the method of calculation that takes the average value over a fixed period of time and adds the latest period data to the calculation of the average while dropping the first period of the calculation. This ensures that the average continues to be calculated by the same number of periods but movies with each new period of data that occurs. Thus, the average “moves” along with price and changes in values as price data is generated. A longer term moving average such as the 200 day moving average is plotted to identify longterm trends in price. A basic approach to using moving averages is to use an appropriate period of moving average by identifying which term of price trend the investor wants to track down. In this approach, when price is above the moving average it is an indication of bullish behavior. When price falls from above the moving average to below the moving average, it is a warning that price trend being viewed may be weakening. When price rises from below the moving average to above the moving average, it is a bullish indication of the price trend. The formula for an arithmetic moving average is: x+n ∑ Pi i=1 MAn =------------------n Where MAn = (n) period moving average; Pi = price of the share; n = time period for computing the moving average; x = the intial time for the moving average calculation, which takes the series formation 1, 2, 3, 4…..t. ‘t’ being the final time series data.

For analysis ICICI bank trend I took 5 year stock price and 50days,100 days & 200 days moving Average lines…….

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

50days moving Average

Axis Title

ICICI BANK Share Price & 50days moving average line 1600 1400 1200 1000 800 600 400 200 0

Close Price of ICICI BANK 50 days moving avg

From above graph, blue line represent ICICI bank share price and red line represent 50days moving Average. I found when trend line cuts the ICICI bank share price line then there is reverse Trend. 100days Moving Average

ICICI BANK Share Price & 100days moving average line 1600 1400 Axis Title

1200 1000 800 600

Close Price of ICICI BANK

400

100 days moving avg

200 0

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK From above graph, blue line represent ICICI bank share price and red line represent 100days moving Average. I found when trend line cuts the ICICI bank share price line then there is reverse Trend. 200 days Moving Average

ICICI BANK Share Price & 200days moving average line 1600 1400 Axis Title

1200 1000 800 600

Close Price of ICICI BANK

400

200 days moving avg

200 0

From above graph, blue line represent ICICI bank share price and red line represent 200days moving Average. I found when trend line cuts the ICICI bank share price line then there is reverse Trend. In above graph , where 200days moving average line cuts the share price line on 1 of aug 2006, from then there is reverse trend.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK Correlation and Beta calculations of ICICI Bank & S&P CNX NIFTY For calculation of Correlation and Beta , I took data from 1jan 2009 to 30 July of 2010.

∑XY ∑X2 N ∑X ∑Y β CORELATION

1300.584403 1326.382466 387 63.53563259 91.10463083 0.9769564 0.5345049

Beta value describes the relationship between the stock return and market index return i.e. Beta is a measure of a stock's volatility in relation to the market. If the regression line is at an exact 450 angle then beta equal to 1.Which mean that 1% change in market index 1% change in stock return. A stock that swings more than the market over time has a beta above 1.0. If a stock moves less than the market, the stock's beta is less than 1.0. High-beta stocks are supposed to be riskier but provide a potential for higher returns; low-beta stocks pose less risk but also lower returns. In case of ICICI BANK I found there is beta of .9769 with NIFTY, which almost 1 mean it Volatile same with NIFTY. If there is a 10% increase in nifty then α

0.075020891

Y

0.172716536

If there is 10% return on nifty then icici has 17.2%

I found, correlation between ICICI Bank and NIFTY is Positive and moving in same direction with 0.5346 appox.

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Conclusion From the fundamental analysis it is clear that Indian economy doing well during this recession period as compare to other developing or developed country. Actually Indian economy doing well more than expectation because India‟s Gross Domestic Product (GDP) ed a betterthan-expected growth rate. In second quarter growth rate was 8.8% which is better than last year same quarter. According to economist end of this fiscal year our growth rate will be 9.2%. Sustained growth rate is good for Indian economy. But inflation is one of the reasons which can sustain Indian growth. In the month of Aug it was 11.25%. But control inflation rate RBI has taken some step like increase repo rate and reserve repo rate without disturbing growth rate. According to recent data realize that Indian banking industry contributing 5.3times in Indian growth so Indian banking industry in growing stage..

Fundamental analysis of ICICI Bank reflects ICICI bank is the largest bank in private sector, growth rate of ICICI Bank is very high comparing to whole Banking industry. Price earnings ratio icici bank out performance the whole industry. Recent Acquisition of BOR by ICICI bank helps ICICI bank to expand its Branch and acquisition help ICICI to acquire large business in Rajasthan. At present ICICI Bank has 2000 branches by acquisition of BOR adds 463 additional Branches, which makes ICICI bank as the strongest network in India after State bank of India. It has a strong back end team to upgrade technology by time to time. Fundamental Analysis strongly finds a huge growth in ICICI bank. Therefore, I recommend strongly to buy and if already has then HOLD the share.

Technical analysis of ICICI bank share say it has a positive correlation with NIFTY. In Trend line analysis I found there is UP TREND in the stock from Sep 2008 and it has a able to continue its trend because of factors like Acquisition of BOR, huge growth in Banking industry and its Outstanding innovative products. From Technical analysis, I Recommend buying of ICICI BANK share and if already purchased then hold for a while.

Target price 1200

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Bibliography http://money.livemint.com/IID64/F100112/Financial/Ratios/Company.aspx http://money.livemint.com/IID64/F100180/Financial/Ratios/Company.aspx http://money.livemint.com/IID64/F132215/Financial/Ratios/Company.aspx http://money.livemint.com/IID64/F131807/Financial/Ratios/Company.aspx http://money.livemint.com/IID64/F100116/Financial/Ratios/Company.aspx http://money.livemint.com/IID64/F100315/Financial/Ratios/Company.aspx http://money.livemint.com/IID64/F132210/Financial/Ratios/Company.aspx

http://data.worldbank.org/country/india http://www.global-rates.com/economic-indicators/inflation/consumer-prices/i/india.aspx http://www.nseindia.com/

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK

Annexure For technical analysis I took 5 year data of icici bank from 2005 to 2010 from NSE INDIA…. Symbol

Series

Date

Open Price

High Price

Low Price

Close Price of ICICI BANK

ICICIBANK

EQ

1-Sep-05

482.25

495.25

481.2

483.85

ICICIBANK

EQ

2-Sep-05

489.9

489.9

478.5

481.5

ICICIBANK

EQ

5-Sep-05

488.95

488.95

481.35

484.5

ICICIBANK

EQ

6-Sep-05

481.1

525

481.1

488

ICICIBANK

EQ

8-Sep-05

488

506.9

485

505.25

ICICIBANK

EQ

9-Sep-05

506.9

518.9

497.1

513.55

ICICIBANK

EQ

12-Sep-05

513.55

518

509

516.45

ICICIBANK

EQ

13-Sep-05

514

521.4

506.6

518.5

ICICIBANK

EQ

14-Sep-05

512.1

530

512.1

527.25

ICICIBANK

EQ

15-Sep-05

529.8

535

525

533.15

ICICIBANK

EQ

16-Sep-05

533.95

550

527

546.15

ICICIBANK

EQ

19-Sep-05

546

558.4

541

555.4

ICICIBANK

EQ

20-Sep-05

550

588

542.15

582.3

ICICIBANK

EQ

21-Sep-05

574

587.8

552

576.5

ICICIBANK

EQ

22-Sep-05

573

582.5

563.5

573.15

ICICIBANK

EQ

23-Sep-05

568

584

548.15

574.55

ICICIBANK

EQ

26-Sep-05

575

585.65

573.1

575.85

ICICIBANK

EQ

27-Sep-05

555.55

593.5

555.55

590.35

ICICIBANK

EQ

28-Sep-05

594.5

601.8

590.1

599.4

ICICIBANK

EQ

29-Sep-05

595.2

603.9

587

598.95

ICICIBANK

EQ

30-Sep-05

599

614.95

590.5

601.7

ICICIBANK

EQ

3-Oct-05

604.4

614

587.65

593.4

ICICIBANK

EQ

4-Oct-05

592.5

598

582

590.35

ICICIBANK

EQ

5-Oct-05

591

597.95

558.5

562.1

ICICIBANK

EQ

6-Oct-05

562

563.5

532.1

534.5

ICICIBANK

EQ

7-Oct-05

534.5

541.95

521.15

529.95

ICICIBANK

EQ

10-Oct-05

530.8

559

527.75

531.4

ICICIBANK

EQ

11-Oct-05

535.85

539.8

521.2

538.55

ICICIBANK

EQ

13-Oct-05

539.8

551.5

517.5

525.65

ICICIBANK

EQ

14-Oct-05

549.7

549.7

502.25

506.25

ICICIBANK

EQ

17-Oct-05

514.8

514.8

495.5

500.35

ICICIBANK

EQ

18-Oct-05

504

511.95

491.4

496.65

ICICIBANK

EQ

19-Oct-05

496

503.7

481

497.6

ICICIBANK

EQ

20-Oct-05

503.7

519.8

491.5

496.9

ICICIBANK

EQ

21-Oct-05

495

508.85

493.25

506.55

ICICIBANK

EQ

24-Oct-05

507

520

493.4

497.6

ICICIBANK

EQ

25-Oct-05

493.4

507.95

467.5

503.95

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

26-Oct-05

504

514.65

500

510.8

ICICIBANK

EQ

27-Oct-05

512.5

512.5

474.1

479.9

ICICIBANK

EQ

28-Oct-05

482.05

490

472.5

485.5

ICICIBANK

EQ

31-Oct-05

487

500

486.5

498.6

ICICIBANK

EQ

1-Nov-05

501

510

493.7

498.65

ICICIBANK

EQ

2-Nov-05

503.5

504.7

497.6

499.45

ICICIBANK

EQ

7-Nov-05

500

505.95

495

499.55

ICICIBANK

EQ

8-Nov-05

505.95

510

499

504.7

ICICIBANK

EQ

9-Nov-05

510

513.9

502

505.5

ICICIBANK

EQ

10-Nov-05

507

511

501.2

503.65

ICICIBANK

EQ

11-Nov-05

505

517.9

504

515.1

ICICIBANK

EQ

14-Nov-05

517.9

531.9

517.9

526.9

ICICIBANK

EQ

16-Nov-05

527

536

525

533.1

ICICIBANK

EQ

17-Nov-05

535

547

532.9

545.4

ICICIBANK

EQ

18-Nov-05

532.9

551

531

538.65

ICICIBANK

EQ

21-Nov-05

540.95

540.95

520

522.4

ICICIBANK

EQ

22-Nov-05

520

529.5

515.8

519.95

ICICIBANK

EQ

23-Nov-05

515.8

528.8

515

527.9

ICICIBANK

EQ

24-Nov-05

527.5

543.7

523.25

538.85

ICICIBANK

EQ

25-Nov-05

545

555

538.25

544.7

ICICIBANK

EQ

26-Nov-05

546

549

539.05

540.65

ICICIBANK

EQ

28-Nov-05

544

545

536.15

539

ICICIBANK

EQ

29-Nov-05

538.3

540.9

532.2

536.9

ICICIBANK

EQ

30-Nov-05

540.9

553.8

535.6

538.05

ICICIBANK

EQ

1-Dec-05

540

544.8

537

540.55

ICICIBANK

EQ

2-Dec-05

544.8

556

542

544.2

ICICIBANK

EQ

5-Dec-05

542

548.9

530.65

532.75

ICICIBANK

EQ

6-Dec-05

530.65

536

525

529.9

ICICIBANK

EQ

7-Dec-05

530

544

524

542.45

ICICIBANK

EQ

8-Dec-05

544

546.5

534.1

540.2

ICICIBANK

EQ

9-Dec-05

539.7

550.9

537.15

549.3

ICICIBANK

EQ

12-Dec-05

550.9

566

550.9

561.65

ICICIBANK

EQ

13-Dec-05

562

569.8

558.2

562.4

ICICIBANK

EQ

14-Dec-05

562

574.65

562

571.6

ICICIBANK

EQ

15-Dec-05

572.8

574.5

559.1

562.45

ICICIBANK

EQ

16-Dec-05

564.8

594

557.5

586.55

ICICIBANK

EQ

19-Dec-05

579.6

586.25

570.55

584.85

ICICIBANK

EQ

20-Dec-05

585

586.9

572.35

575.05

ICICIBANK

EQ

21-Dec-05

574

590.9

569.5

575.1

ICICIBANK

EQ

22-Dec-05

579.8

582.65

570.55

573.55

ICICIBANK

EQ

23-Dec-05

580

593

571

581.05

ICICIBANK

EQ

26-Dec-05

582

584

550.5

559.55

ICICIBANK

EQ

27-Dec-05

559.5

580

541.15

578.2

ICICIBANK

EQ

28-Dec-05

575

586.6

572.25

576.45

ICICIBANK

EQ

29-Dec-05

576

582.4

571.3

573.85

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

30-Dec-05

574

590.5

574

585.05

ICICIBANK

EQ

2-Jan-06

587.7

609.9

587.7

597

ICICIBANK

EQ

3-Jan-06

597

608.5

574.6

606.5

ICICIBANK

EQ

4-Jan-06

611

621

608

613.7

ICICIBANK

EQ

5-Jan-06

617.9

617.9

594.5

604.55

ICICIBANK

EQ

6-Jan-06

605.8

609.75

594.65

600.15

ICICIBANK

EQ

9-Jan-06

601

603.7

587.05

591.2

ICICIBANK

EQ

10-Jan-06

593.95

595

582.1

585.25

ICICIBANK

EQ

12-Jan-06

585

587

576

577.8

ICICIBANK

EQ

13-Jan-06

579

591.9

578

584

ICICIBANK

EQ

16-Jan-06

585

585

565

573.3

ICICIBANK

EQ

17-Jan-06

574.8

583.9

561.1

564.4

ICICIBANK

EQ

18-Jan-06

560

567

545

559.15

ICICIBANK

EQ

19-Jan-06

563

574.4

563

569.55

ICICIBANK

EQ

20-Jan-06

585

585

570.1

579.5

ICICIBANK

EQ

23-Jan-06

576

578.95

565

570.7

ICICIBANK

EQ

24-Jan-06

574.3

578

570.1

573.1

ICICIBANK

EQ

25-Jan-06

574.05

605.85

573.25

597.05

ICICIBANK

EQ

27-Jan-06

605.3

621.4

601

619.55

ICICIBANK

EQ

30-Jan-06

601

620

530.05

614.65

ICICIBANK

EQ

31-Jan-06

619.8

619.8

608

609.25

ICICIBANK

EQ

1-Feb-06

619.9

619.9

588.6

590.2

ICICIBANK

EQ

2-Feb-06

608

608

576.1

579.95

ICICIBANK

EQ

3-Feb-06

579.95

580

566.1

570.95

ICICIBANK

EQ

6-Feb-06

580

612.35

580

608.25

ICICIBANK

EQ

7-Feb-06

606.4

635

602

628.75

ICICIBANK

EQ

8-Feb-06

621.1

630

607

619.1

ICICIBANK

EQ

10-Feb-06

623

623

597.25

603.8

ICICIBANK

EQ

13-Feb-06

605.5

614

605.05

609.5

ICICIBANK

EQ

14-Feb-06

609.5

611

593.55

596.5

ICICIBANK

EQ

15-Feb-06

511.8

606

511.8

598.3

ICICIBANK

EQ

16-Feb-06

576

601.9

576

597.8

ICICIBANK

EQ

17-Feb-06

601

604.25

585

586.9

ICICIBANK

EQ

20-Feb-06

592

594.9

571.55

591.75

ICICIBANK

EQ

21-Feb-06

594.9

599.1

590

593.35

ICICIBANK

EQ

22-Feb-06

593

597

586.05

594.3

ICICIBANK

EQ

23-Feb-06

597

602

583.1

588.4

ICICIBANK

EQ

24-Feb-06

588

596

583.2

593.8

ICICIBANK

EQ

27-Feb-06

593.8

598.3

592.7

596.6

ICICIBANK

EQ

28-Feb-06

596.6

619

596.6

615.25

ICICIBANK

EQ

1-Mar-06

600

620

560

616.55

ICICIBANK

EQ

2-Mar-06

620

628.85

608.3

620.4

ICICIBANK

EQ

3-Mar-06

620

623.9

609.05

611.8

ICICIBANK

EQ

6-Mar-06

615

618.9

610.25

613.35

ICICIBANK

EQ

7-Mar-06

612

613.7

597.2

600.9

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

8-Mar-06

595

603

590

591.55

ICICIBANK

EQ

9-Mar-06

596

604.5

580

601.75

ICICIBANK

EQ

10-Mar-06

603.7

616

595

614.35

ICICIBANK

EQ

13-Mar-06

615

617.95

601.2

605.2

ICICIBANK

EQ

14-Mar-06

605

640

602

606.9

ICICIBANK

EQ

16-Mar-06

613.25

613.25

603.65

610.8

ICICIBANK

EQ

17-Mar-06

606

612.5

605

606.15

ICICIBANK

EQ

20-Mar-06

606.15

609

603.1

606.25

ICICIBANK

EQ

21-Mar-06

609

609

595

598.2

ICICIBANK

EQ

22-Mar-06

596

598

588.1

592.75

ICICIBANK

EQ

23-Mar-06

597.9

603.9

590.5

592.5

ICICIBANK

EQ

24-Mar-06

590

600

588

598.65

ICICIBANK

EQ

27-Mar-06

600

610

598

598.95

ICICIBANK

EQ

28-Mar-06

602

604

590

592.6

ICICIBANK

EQ

29-Mar-06

594

601.3

590

598.5

ICICIBANK

EQ

30-Mar-06

601.3

604.8

584.1

588.7

ICICIBANK

EQ

31-Mar-06

595

599

588

589.05

ICICIBANK

EQ

3-Apr-06

599

611.95

592

604

ICICIBANK

EQ

4-Apr-06

611.95

628

611.95

613.75

ICICIBANK

EQ

5-Apr-06

615

625

610

621.9

ICICIBANK

EQ

7-Apr-06

619.95

623

597.2

599.7

ICICIBANK

EQ

10-Apr-06

598

609

588.1

597.45

ICICIBANK

EQ

12-Apr-06

592.2

599

580

582.55

ICICIBANK

EQ

13-Apr-06

584.4

584.4

560.25

563.35

ICICIBANK

EQ

17-Apr-06

570

584.85

566

580.7

ICICIBANK

EQ

18-Apr-06

584.85

595

583

586.5

ICICIBANK

EQ

19-Apr-06

594.7

594.7

584.1

588.05

ICICIBANK

EQ

20-Apr-06

586

590

582

588.65

ICICIBANK

EQ

21-Apr-06

592

598

585

591.6

ICICIBANK

EQ

24-Apr-06

593

593

480

569.05

ICICIBANK

EQ

25-Apr-06

571

576.15

557

559.8

ICICIBANK

EQ

26-Apr-06

560

569.9

560

567.5

ICICIBANK

EQ

27-Apr-06

568

577.85

561.3

566.15

ICICIBANK

EQ

28-Apr-06

551

579

521

576.8

ICICIBANK

EQ

29-Apr-06

580

635

580

591.75

ICICIBANK

EQ

2-May-06

600.1

625.85

600.1

621.95

ICICIBANK

EQ

3-May-06

625.85

652.4

615.1

649.1

ICICIBANK

EQ

4-May-06

615.1

664.8

600

659.9

ICICIBANK

EQ

5-May-06

660.1

664.85

635.6

638.2

ICICIBANK

EQ

8-May-06

648.95

653.5

631.65

634.55

ICICIBANK

EQ

9-May-06

642

642

629.5

639.15

ICICIBANK

EQ

10-May-06

640

670

636.05

660.75

ICICIBANK

EQ

11-May-06

658

675

649

662.55

ICICIBANK

EQ

12-May-06

655.1

655.1

632.1

636.05

ICICIBANK

EQ

15-May-06

640

640

611.05

619.3

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

16-May-06

615

625.05

597

618.6

ICICIBANK

EQ

17-May-06

625

635.7

620.05

626.05

ICICIBANK

EQ

18-May-06

626

626

581

593.75

ICICIBANK

EQ

19-May-06

600

618.5

550

555.45

ICICIBANK

EQ

22-May-06

585

592

492

553.15

ICICIBANK

EQ

23-May-06

559.9

590

525

577.35

ICICIBANK

EQ

24-May-06

577.35

612.85

552.3

568.9

ICICIBANK

EQ

25-May-06

558.1

572

546

558.95

ICICIBANK

EQ

26-May-06

572

579.8

561.05

563.75

ICICIBANK

EQ

29-May-06

567

574.4

561.15

569.3

ICICIBANK

EQ

30-May-06

574.4

574.9

560.2

569.9

ICICIBANK

EQ

31-May-06

568.7

568.7

530

537.5

ICICIBANK

EQ

1-Jun-06

542

551

531.15

534.3

ICICIBANK

EQ

2-Jun-06

532

554

530

551.95

ICICIBANK

EQ

5-Jun-06

553

557

530

538.1

ICICIBANK

EQ

6-Jun-06

532

553.8

511.65

542.7

ICICIBANK

EQ

7-Jun-06

524.1

543.7

524

533.25

ICICIBANK

EQ

8-Jun-06

531.55

531.55

490.25

498.85

ICICIBANK

EQ

9-Jun-06

496

511

479

500.35

ICICIBANK

EQ

12-Jun-06

502

505

465

474.2

ICICIBANK

EQ

13-Jun-06

465

465.9

435

459.65

ICICIBANK

EQ

14-Jun-06

465

480

441.1

451.2

ICICIBANK

EQ

15-Jun-06

464.05

486.65

460.9

482.55

ICICIBANK

EQ

16-Jun-06

490

524.9

490

506.7

ICICIBANK

EQ

19-Jun-06

498

509.7

493

501

ICICIBANK

EQ

20-Jun-06

493

494.7

481.1

490.45

ICICIBANK

EQ

21-Jun-06

494.7

499.9

488.25

494.4

ICICIBANK

EQ

22-Jun-06

499.9

521.5

499.9

512.25

ICICIBANK

EQ

23-Jun-06

509

509.8

488

508.05

ICICIBANK

EQ

25-Jun-06

514

514

505

507.2

ICICIBANK

EQ

26-Jun-06

507

513

486.55

490.75

ICICIBANK

EQ

27-Jun-06

500

505.85

481

498.6

ICICIBANK

EQ

28-Jun-06

497

506.05

485

488.9

ICICIBANK

EQ

29-Jun-06

493

502

465.7

479.05

ICICIBANK

EQ

30-Jun-06

494.4

505

475

487.9

ICICIBANK

EQ

3-Jul-06

499

518.35

485

489.1

ICICIBANK

EQ

4-Jul-06

495.4

499

488.05

490.35

ICICIBANK

EQ

5-Jul-06

492

503.7

488

499.9

ICICIBANK

EQ

6-Jul-06

494

495

482

485.55

ICICIBANK

EQ

7-Jul-06

491.2

504

477

498.95

ICICIBANK

EQ

10-Jul-06

496

498

487

493

ICICIBANK

EQ

11-Jul-06

490.5

495

485

487.95

ICICIBANK

EQ

12-Jul-06

485

496

464.95

488.3

ICICIBANK

EQ

13-Jul-06

488

498

482.2

495.75

ICICIBANK

EQ

14-Jul-06

482.2

492

472.5

485.9

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

17-Jul-06

500

500

475.2

477.25

ICICIBANK

EQ

18-Jul-06

477

478

467.45

472.6

ICICIBANK

EQ

19-Jul-06

476.1

481.9

465.1

467.75

ICICIBANK

EQ

20-Jul-06

477.2

494.9

477.2

492.05

ICICIBANK

EQ

21-Jul-06

491.4

491.4

478.1

484.75

ICICIBANK

EQ

24-Jul-06

486

518

481

514.85

ICICIBANK

EQ

25-Jul-06

519.95

545

519.95

542.4

ICICIBANK

EQ

26-Jul-06

545

548.9

530.35

540.5

ICICIBANK

EQ

27-Jul-06

541

552

536.1

543.6

ICICIBANK

EQ

28-Jul-06

532.3

545.9

532.3

542.55

ICICIBANK

EQ

31-Jul-06

544.9

568

544.55

553.85

ICICIBANK

EQ

1-Aug-06

554

554

541.9

549.65

ICICIBANK

EQ

2-Aug-06

550

552.4

541.05

548

ICICIBANK

EQ

3-Aug-06

552

565.85

550.3

557.6

ICICIBANK

EQ

4-Aug-06

557.6

561.8

542

547

ICICIBANK

EQ

7-Aug-06

552

571

535

567.85

ICICIBANK

EQ

8-Aug-06

570

599.5

569.9

595.55

ICICIBANK

EQ

9-Aug-06

591.5

605.6

586

590.3

ICICIBANK

EQ

10-Aug-06

592

605

584

599.25

ICICIBANK

EQ

11-Aug-06

600

602

582

584.5

ICICIBANK

EQ

14-Aug-06

584.5

590.35

575

576.75

ICICIBANK

EQ

16-Aug-06

585

595.9

580

590.7

ICICIBANK

EQ

17-Aug-06

593

600

589

591.5

ICICIBANK

EQ

18-Aug-06

592

595

578.25

588.35

ICICIBANK

EQ

21-Aug-06

592

597

582.35

594.65

ICICIBANK

EQ

22-Aug-06

598

604.75

592.5

595.15

ICICIBANK

EQ

23-Aug-06

593

598

586.15

590.6

ICICIBANK

EQ

24-Aug-06

590

591.95

580

589.15

ICICIBANK

EQ

25-Aug-06

612

648

586.1

588.95

ICICIBANK

EQ

28-Aug-06

592

592

585.1

587.75

ICICIBANK

EQ

29-Aug-06

592

597.1

589.85

595.3

ICICIBANK

EQ

30-Aug-06

596.05

599

590.9

593.9

ICICIBANK

EQ

31-Aug-06

596

602.65

594

597.45

ICICIBANK

EQ

1-Sep-06

594.9

611.9

588.5

609.6

ICICIBANK

EQ

4-Sep-06

618

625

615.1

622.75

ICICIBANK

EQ

5-Sep-06

624.85

624.85

611

613.15

ICICIBANK

EQ

6-Sep-06

618.5

619.9

606.2

610.45

ICICIBANK

EQ

7-Sep-06

610.5

610.5

602

607.1

ICICIBANK

EQ

8-Sep-06

608

618.9

601.1

606.4

ICICIBANK

EQ

11-Sep-06

607.3

608.7

593.05

596.75

ICICIBANK

EQ

12-Sep-06

593.05

607.5

585.1

604.75

ICICIBANK

EQ

13-Sep-06

605.1

634.5

605.1

631.75

ICICIBANK

EQ

14-Sep-06

635

655

631.75

650.35

ICICIBANK

EQ

15-Sep-06

645.1

649.9

641

646.6

ICICIBANK

EQ

18-Sep-06

645.1

652.5

637.35

643.65

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

19-Sep-06

642.1

654

641.1

646.75

ICICIBANK

EQ

20-Sep-06

636

656

634.5

651.2

ICICIBANK

EQ

21-Sep-06

665

669.75

653.65

663.4

ICICIBANK

EQ

22-Sep-06

663

663

640.5

654.9

ICICIBANK

EQ

25-Sep-06

576.65

724.4

576.65

658.65

ICICIBANK

EQ

26-Sep-06

636

680

636

678.25

ICICIBANK

EQ

27-Sep-06

661.25

694

661.25

688.25

ICICIBANK

EQ

28-Sep-06

690.1

712.9

680.35

708.8

ICICIBANK

EQ

29-Sep-06

795.15

795.15

694.3

699.6

ICICIBANK

EQ

3-Oct-06

700

708

691.5

697.75

ICICIBANK

EQ

4-Oct-06

675.6

698

675.6

695.05

ICICIBANK

EQ

5-Oct-06

696

709.8

696

705.85

ICICIBANK

EQ

6-Oct-06

700

708.9

700

702.45

ICICIBANK

EQ

9-Oct-06

697.1

704

695.3

698.6

ICICIBANK

EQ

10-Oct-06

699.1

701.95

692.35

695.5

ICICIBANK

EQ

11-Oct-06

703

703

682.5

687

ICICIBANK

EQ

12-Oct-06

689

693.4

672.3

690.4

ICICIBANK

EQ

13-Oct-06

704

704.2

692

694.9

ICICIBANK

EQ

16-Oct-06

703.5

722.7

694.3

720.3

ICICIBANK

EQ

17-Oct-06

724.5

729.45

713

726.3

ICICIBANK

EQ

18-Oct-06

720

746.85

720

744.55

ICICIBANK

EQ

19-Oct-06

747

747

735.15

741.75

ICICIBANK

EQ

20-Oct-06

745

746

726.3

741.5

ICICIBANK

EQ

21-Oct-06

743.9

746

732.55

739.3

ICICIBANK

EQ

23-Oct-06

740

741.7

719

720.55

ICICIBANK

EQ

26-Oct-06

725.55

767

725.55

759.35

ICICIBANK

EQ

27-Oct-06

760

765

751.3

758.55

ICICIBANK

EQ

30-Oct-06

758

791.9

749.1

787.9

ICICIBANK

EQ

31-Oct-06

794.85

794.85

760

777.15

ICICIBANK

EQ

1-Nov-06

784.9

784.9

771.15

778.15

ICICIBANK

EQ

2-Nov-06

760

784.8

760

779.6

ICICIBANK

EQ

3-Nov-06

784

784

768.35

772.75

ICICIBANK

EQ

6-Nov-06

778

778

765.05

767.65

ICICIBANK

EQ

7-Nov-06

772

776.95

765

770.75

ICICIBANK

EQ

8-Nov-06

770.75

795

758.35

785.05

ICICIBANK

EQ

9-Nov-06

793.8

804.8

787.2

800.35

ICICIBANK

EQ

10-Nov-06

805

838.45

797

830.95

ICICIBANK

EQ

13-Nov-06

839.8

850

827

841

ICICIBANK

EQ

14-Nov-06

844.9

860

839

856.9

ICICIBANK

EQ

15-Nov-06

854.9

886.9

851.1

880.5

ICICIBANK

EQ

16-Nov-06

886

925

876.2

887.35

ICICIBANK

EQ

17-Nov-06

890

899.9

870.05

876.55

ICICIBANK

EQ

20-Nov-06

861

880

835.1

859.2

ICICIBANK

EQ

21-Nov-06

877.75

877.75

862.1

872.35

ICICIBANK

EQ

22-Nov-06

879.9

889.9

872.35

880.05

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

23-Nov-06

887.5

887.5

870.35

876

ICICIBANK

EQ

24-Nov-06

875

880

869

872.85

ICICIBANK

EQ

27-Nov-06

876.5

887.75

873.1

883.05

ICICIBANK

EQ

28-Nov-06

877

877

855.5

861.3

ICICIBANK

EQ

29-Nov-06

879.75

879.75

852.65

858.65

ICICIBANK

EQ

30-Nov-06

860

878.3

855.3

872.45

ICICIBANK

EQ

1-Dec-06

883

884.5

865.65

878.15

ICICIBANK

EQ

4-Dec-06

872

884.8

861.3

870.7

ICICIBANK

EQ

5-Dec-06

878.9

878.9

859

863.55

ICICIBANK

EQ

6-Dec-06

863

878.4

861.35

868.45

ICICIBANK

EQ

7-Dec-06

873

884.25

861.45

879.15

ICICIBANK

EQ

8-Dec-06

881

891.5

870.5

880.35

ICICIBANK

EQ

11-Dec-06

865

875

809.25

820.85

ICICIBANK

EQ

12-Dec-06

819.85

832

772.1

803.95

ICICIBANK

EQ

13-Dec-06

811

839.7

805

830.9

ICICIBANK

EQ

14-Dec-06

840

876.5

838

870.35

ICICIBANK

EQ

15-Dec-06

880.4

885

866.1

870.8

ICICIBANK

EQ

18-Dec-06

879.9

890

858.1

887.15

ICICIBANK

EQ

19-Dec-06

885

889.9

853.9

868.2

ICICIBANK

EQ

20-Dec-06

870

879.75

846.15

854.4

ICICIBANK

EQ

21-Dec-06

850.05

859.3

835.1

854.25

ICICIBANK

EQ

22-Dec-06

856

864.85

846

857

ICICIBANK

EQ

26-Dec-06

857.85

878.9

850

873

ICICIBANK

EQ

27-Dec-06

883.9

908.6

879

894.25

ICICIBANK

EQ

28-Dec-06

900

914

896

903.2

ICICIBANK

EQ

29-Dec-06

903.2

909

886

891.5

ICICIBANK

EQ

2-Jan-07

892

906.5

888

897.45

ICICIBANK

EQ

3-Jan-07

909.75

909.75

886.35

894.55

ICICIBANK

EQ

4-Jan-07

895

909

886

890.5

ICICIBANK

EQ

5-Jan-07

890

919

890

910.1

ICICIBANK

EQ

8-Jan-07

917

917

897.55

906.3

ICICIBANK

EQ

9-Jan-07

905.2

918

903.2

912.35

ICICIBANK

EQ

10-Jan-07

909.95

915

872.2

883.85

ICICIBANK

EQ

11-Jan-07

890

909.95

872.2

892.35

ICICIBANK

EQ

12-Jan-07

915

979.8

911

972.3

ICICIBANK

EQ

15-Jan-07

977.8

984

955

957.85

ICICIBANK

EQ

16-Jan-07

964.85

969.95

949.1

960.05

ICICIBANK

EQ

17-Jan-07

960

993.9

953

986.85

ICICIBANK

EQ

18-Jan-07

986.85

995

960.3

971.25

ICICIBANK

EQ

19-Jan-07

971.25

992

954.15

985.4

ICICIBANK

EQ

22-Jan-07

994.4

998.9

965

977.2

ICICIBANK

EQ

23-Jan-07

975

979.9

955.1

964.3

ICICIBANK

EQ

24-Jan-07

999

999

968.3

974.55

ICICIBANK

EQ

25-Jan-07

988

1000

968.4

991.45

ICICIBANK

EQ

29-Jan-07

991.45

991.45

950.3

955.95

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

31-Jan-07

970

977

931.2

941.1

ICICIBANK

EQ

1-Feb-07

951

957

942.35

952.55

ICICIBANK

EQ

2-Feb-07

959.9

963.5

941.05

944.9

ICICIBANK

EQ

5-Feb-07

959.65

959.65

938.15

946.8

ICICIBANK

EQ

6-Feb-07

949.85

976.5

946.5

957.9

ICICIBANK

EQ

7-Feb-07

961

989.9

960

983.15

ICICIBANK

EQ

8-Feb-07

988

1005

980.05

999.7

ICICIBANK

EQ

9-Feb-07

999

1010

981.85

996.15

ICICIBANK

EQ

12-Feb-07

990.1

990.1

936.55

966.15

ICICIBANK

EQ

13-Feb-07

960

988.9

946

955.9

ICICIBANK

EQ

14-Feb-07

932.35

945

891.25

914.4

ICICIBANK

EQ

15-Feb-07

920

954.7

917.8

949.6

ICICIBANK

EQ

19-Feb-07

952.4

985.9

944.3

980.2

ICICIBANK

EQ

20-Feb-07

985

987.8

965.1

969.45

ICICIBANK

EQ

21-Feb-07

987

987

962.3

969.3

ICICIBANK

EQ

22-Feb-07

974

982

938.2

946.2

ICICIBANK

EQ

23-Feb-07

954.8

954.8

892.55

907

ICICIBANK

EQ

26-Feb-07

913.8

923.45

876

904

ICICIBANK

EQ

27-Feb-07

904

904

855.6

875.8

ICICIBANK

EQ

28-Feb-07

849.8

859

801.5

829.5

ICICIBANK

EQ

1-Mar-07

840

858.5

824

855.35

ICICIBANK

EQ

2-Mar-07

850

859

835.2

842.9

ICICIBANK

EQ

5-Mar-07

855.5

855.5

793.25

821.55

ICICIBANK

EQ

6-Mar-07

845

858.9

830

847.9

ICICIBANK

EQ

7-Mar-07

882.5

882.5

818

828.65

ICICIBANK

EQ

8-Mar-07

831

868.85

824

863

ICICIBANK

EQ

9-Mar-07

871.65

878.7

846

858.6

ICICIBANK

EQ

12-Mar-07

865

879.7

855.6

868.7

ICICIBANK

EQ

13-Mar-07

871.25

881

866.35

877.6

ICICIBANK

EQ

14-Mar-07

849.8

849.8

817.05

829.4

ICICIBANK

EQ

15-Mar-07

835

852.4

815.1

823.9

ICICIBANK

EQ

16-Mar-07

822.7

830

801.1

810

ICICIBANK

EQ

19-Mar-07

828

828

798.5

822.55

ICICIBANK

EQ

20-Mar-07

833.8

835.95

820.15

824

ICICIBANK

EQ

21-Mar-07

828

874.7

826

870.55

ICICIBANK

EQ

22-Mar-07

970.35

990

878

899.6

ICICIBANK

EQ

23-Mar-07

870

917

870

891.6

ICICIBANK

EQ

26-Mar-07

899

907.2

870

875.7

ICICIBANK

EQ

28-Mar-07

866.1

870

851.5

857.85

ICICIBANK

EQ

29-Mar-07

859.45

868.7

837

855.3

ICICIBANK

EQ

30-Mar-07

803.65

863.55

803.65

853.35

ICICIBANK

EQ

2-Apr-07

820.6

829.7

800.05

803.95

ICICIBANK

EQ

3-Apr-07

808

814.6

791

807.9

ICICIBANK

EQ

4-Apr-07

817

831.85

816

820.95

ICICIBANK

EQ

5-Apr-07

823

843.9

811

838.65

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

9-Apr-07

882.5

882.5

825

858.25

ICICIBANK

EQ

10-Apr-07

858.25

864

838.55

857.75

ICICIBANK

EQ

11-Apr-07

858

871.85

852.25

859.5

ICICIBANK

EQ

12-Apr-07

840

854.85

834.6

849.25

ICICIBANK

EQ

13-Apr-07

864

879

851

873.45

ICICIBANK

EQ

16-Apr-07

881

893.8

878

888.25

ICICIBANK

EQ

17-Apr-07

899

899

882.1

894

ICICIBANK

EQ

18-Apr-07

895

911

891

898.95

ICICIBANK

EQ

19-Apr-07

895

912

875.15

905.15

ICICIBANK

EQ

20-Apr-07

906

921

903

916.7

ICICIBANK

EQ

23-Apr-07

915

924.5

902.35

917.55

ICICIBANK

EQ

24-Apr-07

905

959

905

950.1

ICICIBANK

EQ

25-Apr-07

955

970.9

935

962.9

ICICIBANK

EQ

26-Apr-07

965.2

994.7

955.05

961.45

ICICIBANK

EQ

27-Apr-07

964.7

964.7

930

935.15

ICICIBANK

EQ

30-Apr-07

890

890

842.1

865.85

ICICIBANK

EQ

3-May-07

898

898

864.65

869.9

ICICIBANK

EQ

4-May-07

878.85

878.85

852

855.85

ICICIBANK

EQ

7-May-07

874.45

874.45

841

843.75

ICICIBANK

EQ

8-May-07

845

860

837

839.8

ICICIBANK

EQ

9-May-07

845

852.45

826.3

849.35

ICICIBANK

EQ

10-May-07

859

860

841.05

842.95

ICICIBANK

EQ

11-May-07

835

860

822.15

848.45

ICICIBANK

EQ

14-May-07

855.1

873.7

852

870.4

ICICIBANK

EQ

15-May-07

870

889.9

870

886.85

ICICIBANK

EQ

16-May-07

886.85

923.8

886.85

918.6

ICICIBANK

EQ

17-May-07

935

954.5

931.4

938.05

ICICIBANK

EQ

18-May-07

930

954.9

930

951.15

ICICIBANK

EQ

21-May-07

955

964

935.3

943

ICICIBANK

EQ

22-May-07

943.8

946

924.15

928.55

ICICIBANK

EQ

23-May-07

945

945

913

917.85

ICICIBANK

EQ

24-May-07

910

930

905.1

911.3

ICICIBANK

EQ

25-May-07

900

917.2

881.25

912.7

ICICIBANK

EQ

28-May-07

918.85

935.05

916

922.8

ICICIBANK

EQ

29-May-07

923

931

917

920.6

ICICIBANK

EQ

30-May-07

918.8

921.95

908.1

913.65

ICICIBANK

EQ

31-May-07

927.9

927.9

910

919.15

ICICIBANK

EQ

1-Jun-07

925

938.8

922.1

930.45

ICICIBANK

EQ

4-Jun-07

930.45

941

922.1

933.35

ICICIBANK

EQ

5-Jun-07

933.75

950.7

927.25

939.05

ICICIBANK

EQ

6-Jun-07

941

941

910

911.2

ICICIBANK

EQ

7-Jun-07

910

923.9

900

909.1

ICICIBANK

EQ

8-Jun-07

900

914.4

888

903.45

ICICIBANK

EQ

11-Jun-07

920

922

900

901.95

ICICIBANK

EQ

12-Jun-07

903

923.3

896

919.35

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

13-Jun-07

921.1

936.35

910

913.95

ICICIBANK

EQ

14-Jun-07

915

925

901.55

905.85

ICICIBANK

EQ

15-Jun-07

914.65

922.75

903

908.7

ICICIBANK

EQ

18-Jun-07

926.1

926.1

915

918.75

ICICIBANK

EQ

19-Jun-07

922

949.9

920.2

945.15

ICICIBANK

EQ

20-Jun-07

950

961.7

946

948.15

ICICIBANK

EQ

21-Jun-07

954

954

938.75

949.95

ICICIBANK

EQ

22-Jun-07

949.95

966.75

947.3

954.55

ICICIBANK

EQ

25-Jun-07

955

955

930

952.6

ICICIBANK

EQ

26-Jun-07

965

965

930

945.9

ICICIBANK

EQ

27-Jun-07

944.5

948

935.25

938.05

ICICIBANK

EQ

28-Jun-07

942

948

935.25

942.85

ICICIBANK

EQ

29-Jun-07

944.1

959.05

944.1

955.45

ICICIBANK

EQ

3-Jul-07

953

974.95

945.6

966.7

ICICIBANK

EQ

4-Jul-07

975

994

958.55

985.95

ICICIBANK

EQ

5-Jul-07

991

1009

970.1

1003.65

ICICIBANK

EQ

6-Jul-07

1000

1010

977.15

981.5

ICICIBANK

EQ

9-Jul-07

979.9

983.7

952.65

970.7

ICICIBANK

EQ

11-Jul-07

960

967.15

950.5

953.55

ICICIBANK

EQ

12-Jul-07

964

977.1

957.15

967.65

ICICIBANK

EQ

13-Jul-07

976

991.25

967.65

972.5

ICICIBANK

EQ

16-Jul-07

972.5

978.9

966.35

970.9

ICICIBANK

EQ

17-Jul-07

948

988.7

948

973.7

ICICIBANK

EQ

18-Jul-07

975

987

965.1

983.35

ICICIBANK

EQ

19-Jul-07

990

999.9

981.55

989.6

ICICIBANK

EQ

20-Jul-07

994.4

1003.5

982.1

985.85

ICICIBANK

EQ

23-Jul-07

983

983

956.3

970.1

ICICIBANK

EQ

24-Jul-07

970

991.15

966.15

969.65

ICICIBANK

EQ

25-Jul-07

968.25

968.7

952

958.4

ICICIBANK

EQ

26-Jul-07

961

967.4

941.15

944.55

ICICIBANK

EQ

27-Jul-07

930

934.9

901

914.4

ICICIBANK

EQ

30-Jul-07

910

940

901.25

923

ICICIBANK

EQ

31-Jul-07

930.8

938

905

927.45

ICICIBANK

EQ

1-Aug-07

920

920

885.1

891

ICICIBANK

EQ

2-Aug-07

900

905.5

881.55

901.4

ICICIBANK

EQ

3-Aug-07

915

920

906

915.5

ICICIBANK

EQ

6-Aug-07

915.5

915.5

876.35

886.9

ICICIBANK

EQ

7-Aug-07

905

917.9

865.3

869.9

ICICIBANK

EQ

8-Aug-07

880

894

873

884

ICICIBANK

EQ

9-Aug-07

890

920

884

889.7

ICICIBANK

EQ

10-Aug-07

870

870

840.1

864.1

ICICIBANK

EQ

13-Aug-07

880

880

865

873.85

ICICIBANK

EQ

14-Aug-07

888.8

888.8

874.2

878.65

ICICIBANK

EQ

16-Aug-07

842.1

842.1

816.55

832.15

ICICIBANK

EQ

17-Aug-07

828

861.7

805

824.7

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

20-Aug-07

869.8

888.8

856.1

872.35

ICICIBANK

EQ

21-Aug-07

870

872

822.3

829.05

ICICIBANK

EQ

22-Aug-07

840

852.95

811.05

846.1

ICICIBANK

EQ

23-Aug-07

858

869

822.1

824.95

ICICIBANK

EQ

24-Aug-07

835.55

839

822.2

833.8

ICICIBANK

EQ

27-Aug-07

859.9

887.9

852.1

883.55

ICICIBANK

EQ

28-Aug-07

883.55

883.55

858

862.9

ICICIBANK

EQ

29-Aug-07

855

862.9

841.25

857.1

ICICIBANK

EQ

30-Aug-07

870

877.6

860

873.05

ICICIBANK

EQ

31-Aug-07

873.05

894.6

869

888.4

ICICIBANK

EQ

3-Sep-07

890.1

911

890.1

907.9

ICICIBANK

EQ

4-Sep-07

917.15

926.4

901

908.6

ICICIBANK

EQ

5-Sep-07

910.5

925

905

915.4

ICICIBANK

EQ

6-Sep-07

907

922.9

903.1

920.9

ICICIBANK

EQ

7-Sep-07

925

930.65

915

920.05

ICICIBANK

EQ

10-Sep-07

910

916

903.3

910.9

ICICIBANK

EQ

11-Sep-07

916

919

898.9

901.55

ICICIBANK

EQ

12-Sep-07

911

911

882

885.35

ICICIBANK

EQ

13-Sep-07

887

900.1

882.35

884.05

ICICIBANK

EQ

14-Sep-07

889

924

889

906.3

ICICIBANK

EQ

17-Sep-07

908

913

890.9

895.15

ICICIBANK

EQ

18-Sep-07

895

931

892

924.55

ICICIBANK

EQ

19-Sep-07

940

979

940

973.55

ICICIBANK

EQ

20-Sep-07

970

980

958.45

967.1

ICICIBANK

EQ

21-Sep-07

967.1

978.8

959.2

966.05

ICICIBANK

EQ

24-Sep-07

975

999

975

996.3

ICICIBANK

EQ

25-Sep-07

999.75

1008.05

968.65

993.05

ICICIBANK

EQ

26-Sep-07

997.3

1032.9

994.1

1020

ICICIBANK

EQ

27-Sep-07

1040

1040

1010.3

1028.25

ICICIBANK

EQ

28-Sep-07

1040

1069.9

1027

1062.4

ICICIBANK

EQ

1-Oct-07

1068

1068

1035

1057.8

ICICIBANK

EQ

3-Oct-07

1062

1125.4

1050

1086.55

ICICIBANK

EQ

4-Oct-07

1079.9

1080

1018

1068

ICICIBANK

EQ

5-Oct-07

1069

1079

1025

1036.4

ICICIBANK

EQ

8-Oct-07

1040

1047.7

1001

1021.2

ICICIBANK

EQ

9-Oct-07

1002.1

1055

975

1045.65

ICICIBANK

EQ

10-Oct-07

1053

1078

1053

1070.55

ICICIBANK

EQ

11-Oct-07

1036.65

1098.95

1036.65

1091.25

ICICIBANK

EQ

12-Oct-07

1063

1082.9

1044

1055

ICICIBANK

EQ

15-Oct-07

1060

1103.25

1060

1097.45

ICICIBANK

EQ

16-Oct-07

1100

1182.9

1084.05

1159.65

ICICIBANK

EQ

17-Oct-07

1060

1152.05

1020

1117.1

ICICIBANK

EQ

18-Oct-07

1118

1150

1013

1036.5

ICICIBANK

EQ

19-Oct-07

1039.7

1064.4

981.1

1022.8

ICICIBANK

EQ

22-Oct-07

1000.1

1086

1000.1

1061.35

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

23-Oct-07

1075

1110

1075

1102

ICICIBANK

EQ

24-Oct-07

1115

1136

1090.2

1099.9

ICICIBANK

EQ

25-Oct-07

1094

1175

1090

1144.65

ICICIBANK

EQ

26-Oct-07

1100.25

1200

1100.25

1187.5

ICICIBANK

EQ

29-Oct-07

1210.1

1272

1195.5

1240.65

ICICIBANK

EQ

30-Oct-07

1251.25

1293.95

1202.65

1240.2

ICICIBANK

EQ

31-Oct-07

1241

1271

1213.6

1254.05

ICICIBANK

EQ

1-Nov-07

1270

1318

1240

1298.3

ICICIBANK

EQ

2-Nov-07

1242.6

1349

1236

1333.4

ICICIBANK

EQ

5-Nov-07

1329.85

1330

1250.15

1269.85

ICICIBANK

EQ

6-Nov-07

1299.4

1299.4

1217.25

1241.8

ICICIBANK

EQ

7-Nov-07

1267.7

1280

1194

1200.8

ICICIBANK

EQ

8-Nov-07

1167

1193

1158

1169.05

ICICIBANK

EQ

9-Nov-07

1195

1211.35

1126

1144.45

ICICIBANK

EQ

12-Nov-07

1100.05

1162

1084

1145.35

ICICIBANK

EQ

13-Nov-07

1145

1199.4

1110

1173.7

ICICIBANK

EQ

14-Nov-07

1233.35

1303

1206.4

1278.55

ICICIBANK

EQ

15-Nov-07

1280

1294.9

1222.65

1241.65

ICICIBANK

EQ

16-Nov-07

1210

1244.2

1205

1220.05

ICICIBANK

EQ

19-Nov-07

1225

1240

1178

1187.7

ICICIBANK

EQ

20-Nov-07

1170.95

1210

1145

1160.45

ICICIBANK

EQ

21-Nov-07

1175

1175

1080

1106.45

ICICIBANK

EQ

22-Nov-07

1110

1160.5

1085.25

1145.35

ICICIBANK

EQ

23-Nov-07

1129.95

1159.8

1110

1139.4

ICICIBANK

EQ

26-Nov-07

1164.9

1178

1148.8

1156.8

ICICIBANK

EQ

27-Nov-07

1144.85

1144.85

1105

1132.3

ICICIBANK

EQ

28-Nov-07

1169.9

1169.9

1116.4

1122.9

ICICIBANK

EQ

29-Nov-07

1148

1185

1140

1161.75

ICICIBANK

EQ

30-Nov-07

1170

1193.5

1146.65

1178.4

ICICIBANK

EQ

3-Dec-07

1180

1188

1156.25

1162

ICICIBANK

EQ

4-Dec-07

1165

1165

1133.2

1139.7

ICICIBANK

EQ

5-Dec-07

1145

1177

1131

1164.05

ICICIBANK

EQ

6-Dec-07

1198.8

1219.7

1180

1200.7

ICICIBANK

EQ

7-Dec-07

1213

1250

1202.25

1247.6

ICICIBANK

EQ

10-Dec-07

1250.1

1284.8

1237

1271.45

ICICIBANK

EQ

11-Dec-07

1271.45

1326.6

1269.9

1314.3

ICICIBANK

EQ

12-Dec-07

1275

1312.9

1270

1289.9

ICICIBANK

EQ

13-Dec-07

1290

1299.5

1231.1

1242.85

ICICIBANK

EQ

14-Dec-07

1210.25

1252.4

1203

1206.95

ICICIBANK

EQ

17-Dec-07

1238.8

1238.8

1155

1166.25

ICICIBANK

EQ

18-Dec-07

1170

1181.8

1130.25

1137.7

ICICIBANK

EQ

19-Dec-07

1169.35

1174.65

1148.15

1163.4

ICICIBANK

EQ

20-Dec-07

1175

1180

1145.15

1157.5

ICICIBANK

EQ

24-Dec-07

1160

1214

1158

1205.95

ICICIBANK

EQ

26-Dec-07

1240

1247.4

1185.25

1218.9

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

27-Dec-07

1232

1260

1225.25

1247.25

ICICIBANK

EQ

28-Dec-07

1231

1242

1204

1226.7

ICICIBANK

EQ

31-Dec-07

1238

1249.1

1200

1238.7

ICICIBANK

EQ

1-Jan-08

1240

1240

1221.1

1228.75

ICICIBANK

EQ

2-Jan-08

1248

1299.7

1205.25

1267.25

ICICIBANK

EQ

3-Jan-08

1252.1

1264.9

1225.05

1228.95

ICICIBANK

EQ

4-Jan-08

1231.6

1300

1231.6

1286.3

ICICIBANK

EQ

7-Jan-08

1280

1379.95

1234

1362.55

ICICIBANK

EQ

8-Jan-08

1370

1390

1311.45

1339.95

ICICIBANK

EQ

9-Jan-08

1325

1354.85

1279.1

1307.95

ICICIBANK

EQ

10-Jan-08

1340

1400

1320

1356.15

ICICIBANK

EQ

11-Jan-08

1375

1450

1375

1435

ICICIBANK

EQ

14-Jan-08

1450

1455.5

1380.65

1410

ICICIBANK

EQ

15-Jan-08

1400

1410

1332.1

1352.2

ICICIBANK

EQ

16-Jan-08

1282.2

1379.4

1282.2

1368.3

ICICIBANK

EQ

17-Jan-08

1370.2

1386

1276.55

1322.1

ICICIBANK

EQ

18-Jan-08

1318

1340

1221.25

1248.85

ICICIBANK

EQ

21-Jan-08

1250

1250

1080.2

1173.2

ICICIBANK

EQ

22-Jan-08

1100.2

1190

1001.65

1124.95

ICICIBANK

EQ

23-Jan-08

1175

1250

1124.95

1151.45

ICICIBANK

EQ

24-Jan-08

1198

1246

1095.05

1131.85

ICICIBANK

EQ

25-Jan-08

1135

1277

1135

1261.3

ICICIBANK

EQ

28-Jan-08

1240

1284.7

1200

1273.95

ICICIBANK

EQ

29-Jan-08

1275

1313.85

1183

1220.45

ICICIBANK

EQ

30-Jan-08

1230

1230

1166

1187.4

ICICIBANK

EQ

31-Jan-08

1190

1212

1131.1

1147

ICICIBANK

EQ

1-Feb-08

1157

1212.95

1133.95

1198.15

ICICIBANK

EQ

4-Feb-08

1221

1244.9

1192.05

1212.25

ICICIBANK

EQ

5-Feb-08

1208

1209.65

1180.35

1191.3

ICICIBANK

EQ

6-Feb-08

1118

1173.3

1116.45

1152.05

ICICIBANK

EQ

7-Feb-08

1157

1194

1093

1106.1

ICICIBANK

EQ

8-Feb-08

1106.1

1124.7

1026

1073.9

ICICIBANK

EQ

11-Feb-08

1069.7

1097.8

999

1033.85

ICICIBANK

EQ

12-Feb-08

1055

1083.6

1037.1

1067.25

ICICIBANK

EQ

13-Feb-08

1071

1111

1058

1101.8

ICICIBANK

EQ

14-Feb-08

1115

1174

1115

1161.85

ICICIBANK

EQ

15-Feb-08

1150

1199.35

1140.4

1190.9

ICICIBANK

EQ

18-Feb-08

1220

1240

1178.6

1209.8

ICICIBANK

EQ

19-Feb-08

1210

1242.8

1206.15

1220.2

ICICIBANK

EQ

20-Feb-08

1195

1195

1160

1168.3

ICICIBANK

EQ

21-Feb-08

1188

1188

1115

1141.3

ICICIBANK

EQ

22-Feb-08

1130

1130

1090

1099.8

ICICIBANK

EQ

25-Feb-08

1110

1115

1051.1

1107.1

ICICIBANK

EQ

26-Feb-08

1123

1133

1107

1117.85

ICICIBANK

EQ

27-Feb-08

1190.65

1190.65

1102.3

1116.95

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

28-Feb-08

1120

1124

1086.1

1105.85

ICICIBANK

EQ

29-Feb-08

1100

1112.9

1045.45

1088.5

ICICIBANK

EQ

3-Mar-08

1060

1060

1011

1024.6

ICICIBANK

EQ

4-Mar-08

1021

1035

930

971.1

ICICIBANK

EQ

5-Mar-08

950

988

924

960.15

ICICIBANK

EQ

7-Mar-08

944

944

855.25

893.4

ICICIBANK

EQ

10-Mar-08

877

911

836.35

871.85

ICICIBANK

EQ

11-Mar-08

864.9

887

840.4

856.65

ICICIBANK

EQ

12-Mar-08

900

924

875.05

880.3

ICICIBANK

EQ

13-Mar-08

859.9

866

817

837.55

ICICIBANK

EQ

14-Mar-08

840

885

825.35

876.95

ICICIBANK

EQ

17-Mar-08

850

854.75

744

759.95

ICICIBANK

EQ

18-Mar-08

768.7

799

720.05

768.2

ICICIBANK

EQ

19-Mar-08

899

899

750.25

768.2

ICICIBANK

EQ

24-Mar-08

798.4

822.9

757.2

802.2

ICICIBANK

EQ

25-Mar-08

839.85

892

817.2

878.85

ICICIBANK

EQ

26-Mar-08

893

893

837.1

843.95

ICICIBANK

EQ

27-Mar-08

837

850

821.05

834.55

ICICIBANK

EQ

28-Mar-08

889.8

889.8

752.55

835.5

ICICIBANK

EQ

31-Mar-08

848.85

848.85

765

769.4

ICICIBANK

EQ

1-Apr-08

793.9

793.9

732

757.75

ICICIBANK

EQ

2-Apr-08

790

815

780

784.55

ICICIBANK

EQ

3-Apr-08

794.25

796.75

775.15

786.75

ICICIBANK

EQ

4-Apr-08

790.1

797.15

748

764.55

ICICIBANK

EQ

7-Apr-08

799.95

815

735.25

811.3

ICICIBANK

EQ

8-Apr-08

726.55

828.8

726.55

814

ICICIBANK

EQ

9-Apr-08

800

842

800

836.6

ICICIBANK

EQ

10-Apr-08

835

835

797.3

800.95

ICICIBANK

EQ

11-Apr-08

810

820

785.05

788.05

ICICIBANK

EQ

15-Apr-08

761.1

825

752.2

807.75

ICICIBANK

EQ

16-Apr-08

819.9

831

807

816.15

ICICIBANK

EQ

17-Apr-08

820

851

820

836.75

ICICIBANK

EQ

21-Apr-08

841

874.85

825.25

864.25

ICICIBANK

EQ

22-Apr-08

865

890

855.1

882.3

ICICIBANK

EQ

23-Apr-08

855.4

894.7

845.05

864.75

ICICIBANK

EQ

24-Apr-08

889

889

856

878.8

ICICIBANK

EQ

25-Apr-08

875

929.8

870

915.65

ICICIBANK

EQ

28-Apr-08

931.8

960

890

895.85

ICICIBANK

EQ

29-Apr-08

880

925

880

902.5

ICICIBANK

EQ

30-Apr-08

918

919.95

872

879.6

ICICIBANK

EQ

2-May-08

948.7

948.7

893

937.15

ICICIBANK

EQ

5-May-08

950

960.9

925

933.85

ICICIBANK

EQ

6-May-08

935

942

918.35

928.8

ICICIBANK

EQ

7-May-08

928

928

904.9

919

ICICIBANK

EQ

8-May-08

944.4

944.4

883

892.85

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

9-May-08

889

904.4

863.3

873.85

ICICIBANK

EQ

12-May-08

865

888.7

862

880.55

ICICIBANK

EQ

13-May-08

887.7

905

870

888.6

ICICIBANK

EQ

14-May-08

893.8

900

862.35

896.45

ICICIBANK

EQ

15-May-08

899

934.4

896

928.35

ICICIBANK

EQ

16-May-08

940

945

925

942.85

ICICIBANK

EQ

20-May-08

957

971

918.05

927.2

ICICIBANK

EQ

21-May-08

910

920

897.2

911.55

ICICIBANK

EQ

22-May-08

895

900

876

880.55

ICICIBANK

EQ

23-May-08

876

886.8

857.35

862.05

ICICIBANK

EQ

26-May-08

835.25

863

811.75

820.3

ICICIBANK

EQ

27-May-08

834.7

834.7

802.1

810.35

ICICIBANK

EQ

28-May-08

838.8

838.8

797.1

820.45

ICICIBANK

EQ

29-May-08

830

835

784.4

796.25

ICICIBANK

EQ

30-May-08

795.25

805

778.2

788.6

ICICIBANK

EQ

2-Jun-08

830

830

761

765.05

ICICIBANK

EQ

3-Jun-08

726.4

769

726.4

760.55

ICICIBANK

EQ

4-Jun-08

740.4

788

740.4

757.55

ICICIBANK

EQ

5-Jun-08

757.55

787.6

745

778.2

ICICIBANK

EQ

6-Jun-08

797.8

800

761.3

769.4

ICICIBANK

EQ

9-Jun-08

740

762.85

732.65

750.3

ICICIBANK

EQ

10-Jun-08

746

750

711.65

730.95

ICICIBANK

EQ

11-Jun-08

738

754.45

731.1

741.2

ICICIBANK

EQ

12-Jun-08

745.65

751

702.05

743.25

ICICIBANK

EQ

13-Jun-08

749.75

772

747

765.3

ICICIBANK

EQ

16-Jun-08

780

803.6

775

797.45

ICICIBANK

EQ

17-Jun-08

797.45

824.45

785

820.65

ICICIBANK

EQ

18-Jun-08

835

835

772.15

786.95

ICICIBANK

EQ

19-Jun-08

780

780

747.25

753.6

ICICIBANK

EQ

20-Jun-08

732.15

759.8

718

732.95

ICICIBANK

EQ

23-Jun-08

734.7

736.5

709.95

720.7

ICICIBANK

EQ

24-Jun-08

710.25

737.9

696.05

703.15

ICICIBANK

EQ

25-Jun-08

683

708.8

675.1

698.2

ICICIBANK

EQ

26-Jun-08

704

714.8

682.5

697.55

ICICIBANK

EQ

27-Jun-08

684

684

642.55

652.15

ICICIBANK

EQ

30-Jun-08

664.8

664.8

611.35

630.2

ICICIBANK

EQ

1-Jul-08

630

642

580

589.1

ICICIBANK

EQ

2-Jul-08

589

628.8

554

621.05

ICICIBANK

EQ

3-Jul-08

610

615

557.5

571.9

ICICIBANK

EQ

4-Jul-08

561.85

614.9

560.8

603.6

ICICIBANK

EQ

7-Jul-08

645

645

596.25

605.15

ICICIBANK

EQ

8-Jul-08

570.15

604

570.15

594.35

ICICIBANK

EQ

9-Jul-08

634.4

644.9

610

621.7

ICICIBANK

EQ

10-Jul-08

600.25

622.75

593

616.9

ICICIBANK

EQ

11-Jul-08

620

622

586.1

591.6

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

14-Jul-08

581

599.05

573.25

578.9

ICICIBANK

EQ

15-Jul-08

569.9

569.9

525

529.15

ICICIBANK

EQ

16-Jul-08

530.15

542.5

514

519.75

ICICIBANK

EQ

17-Jul-08

554.85

560.9

535.15

551.85

ICICIBANK

EQ

18-Jul-08

568

624

560

617.45

ICICIBANK

EQ

21-Jul-08

644.4

650

624.15

642.95

ICICIBANK

EQ

22-Jul-08

640.9

677.25

630.3

661.7

ICICIBANK

EQ

23-Jul-08

700

748

692.25

738.7

ICICIBANK

EQ

24-Jul-08

750.25

764.9

701

730.2

ICICIBANK

EQ

25-Jul-08

700

705

648.2

656.75

ICICIBANK

EQ

28-Jul-08

636.55

669

623.95

663.4

ICICIBANK

EQ

29-Jul-08

647.7

647.7

603.25

607.7

ICICIBANK

EQ

30-Jul-08

622

648

617.1

636.1

ICICIBANK

EQ

31-Jul-08

638

664.1

621.15

637.3

ICICIBANK

EQ

1-Aug-08

615

650

610

642.4

ICICIBANK

EQ

4-Aug-08

635

659.5

630

640.45

ICICIBANK

EQ

5-Aug-08

643.35

704.7

626

694.1

ICICIBANK

EQ

6-Aug-08

727.65

747.5

698.6

706.65

ICICIBANK

EQ

7-Aug-08

705

722

693.3

707.95

ICICIBANK

EQ

8-Aug-08

693.6

744.5

683

731.6

ICICIBANK

EQ

11-Aug-08

784

784

745

771.15

ICICIBANK

EQ

12-Aug-08

789

789

728.1

740.65

ICICIBANK

EQ

13-Aug-08

716.6

728.4

704.2

710.7

ICICIBANK

EQ

14-Aug-08

705

709.45

667.2

673.45

ICICIBANK

EQ

18-Aug-08

675

689.7

660.75

665

ICICIBANK

EQ

19-Aug-08

650.25

683.4

650.1

677.7

ICICIBANK

EQ

20-Aug-08

662.4

690

662.4

678.8

ICICIBANK

EQ

21-Aug-08

681.25

681.25

641

643.7

ICICIBANK

EQ

22-Aug-08

646

651.8

633

644.55

ICICIBANK

EQ

25-Aug-08

665.5

679

653.55

657.15

ICICIBANK

EQ

26-Aug-08

635.05

671.4

616.65

666.55

ICICIBANK

EQ

27-Aug-08

684.6

684.6

647.3

649.95

ICICIBANK

EQ

28-Aug-08

653.05

659.9

627.95

632.55

ICICIBANK

EQ

29-Aug-08

644.5

682.5

642.65

671.9

ICICIBANK

EQ

1-Sep-08

657

670

642.9

665

ICICIBANK

EQ

2-Sep-08

666.05

726

666.05

714.05

ICICIBANK

EQ

4-Sep-08

714.05

730

694.15

716.65

ICICIBANK

EQ

5-Sep-08

700

704.5

680

686.75

ICICIBANK

EQ

8-Sep-08

721.05

750

715

720.45

ICICIBANK

EQ

9-Sep-08

705

717.9

700

712.1

ICICIBANK

EQ

10-Sep-08

691

704

686.35

701

ICICIBANK

EQ

11-Sep-08

704

704

671.55

686.6

ICICIBANK

EQ

12-Sep-08

693.65

700

648.25

652.8

ICICIBANK

EQ

15-Sep-08

636

636

595.35

627.5

ICICIBANK

EQ

16-Sep-08

591.1

609

564.3

591.65

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

17-Sep-08

599

609.75

530

560.05

ICICIBANK

EQ

18-Sep-08

534.75

582

513.1

577.15

ICICIBANK

EQ

19-Sep-08

610.1

635

583

627.5

ICICIBANK

EQ

22-Sep-08

636.8

643.7

616.5

635.75

ICICIBANK

EQ

23-Sep-08

615.9

626.5

594.55

599.15

ICICIBANK

EQ

24-Sep-08

599

621.8

591.55

600.1

ICICIBANK

EQ

25-Sep-08

605

609.8

572.1

596.2

ICICIBANK

EQ

26-Sep-08

590

599.8

554.1

560.4

ICICIBANK

EQ

29-Sep-08

561.25

565

483

493.3

ICICIBANK

EQ

30-Sep-08

485.9

555.55

460.05

535.55

ICICIBANK

EQ

1-Oct-08

526.1

564.9

521.15

550.9

ICICIBANK

EQ

3-Oct-08

548

555

498.1

504.35

ICICIBANK

EQ

6-Oct-08

490

499.95

475

490.05

ICICIBANK

EQ

7-Oct-08

501.2

521.4

463

485.05

ICICIBANK

EQ

8-Oct-08

480

480

418.7

453.75

ICICIBANK

EQ

10-Oct-08

420

430

327

363.65

ICICIBANK

EQ

13-Oct-08

390

454.45

380

425.15

ICICIBANK

EQ

14-Oct-08

499.8

499.8

438

449.55

ICICIBANK

EQ

15-Oct-08

437.7

437.7

405.3

414.15

ICICIBANK

EQ

16-Oct-08

399.4

431

375

416.15

ICICIBANK

EQ

17-Oct-08

421

428.8

376.1

391.25

ICICIBANK

EQ

20-Oct-08

396.3

421.7

396.3

411.35

ICICIBANK

EQ

21-Oct-08

468.45

468.45

415.05

431.05

ICICIBANK

EQ

22-Oct-08

424.4

431.5

395.1

396.7

ICICIBANK

EQ

23-Oct-08

386.4

415.2

360

365.8

ICICIBANK

EQ

24-Oct-08

350.5

372.6

303.5

308.5

ICICIBANK

EQ

27-Oct-08

301.25

324.8

283.1

316.1

ICICIBANK

EQ

28-Oct-08

327.15

350

327.15

335.5

ICICIBANK

EQ

29-Oct-08

345

355.9

334.1

345.35

ICICIBANK

EQ

31-Oct-08

370.55

412.9

363

398.75

ICICIBANK

EQ

3-Nov-08

415

442

415

430.7

ICICIBANK

EQ

4-Nov-08

432

470

418

457.8

ICICIBANK

EQ

5-Nov-08

487.7

492.1

441.1

450.85

ICICIBANK

EQ

6-Nov-08

433

457.8

416.7

433.4

ICICIBANK

EQ

7-Nov-08

429.9

442

406

432.3

ICICIBANK

EQ

10-Nov-08

440

475.75

439

471.85

ICICIBANK

EQ

11-Nov-08

464.95

467.15

428.5

434.35

ICICIBANK

EQ

12-Nov-08

425

428

392.2

397.3

ICICIBANK

EQ

14-Nov-08

401.4

419.7

385.1

395.9

ICICIBANK

EQ

17-Nov-08

395

400

360.65

386.45

ICICIBANK

EQ

18-Nov-08

370

380

355

360.2

ICICIBANK

EQ

19-Nov-08

364.4

375

342.5

348.25

ICICIBANK

EQ

20-Nov-08

338.6

338.6

309.05

319.5

ICICIBANK

EQ

21-Nov-08

317.4

349.7

306.1

334.05

ICICIBANK

EQ

24-Nov-08

340

342.8

315.25

322.55

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

25-Nov-08

337

342

318.05

321.1

ICICIBANK

EQ

26-Nov-08

325

354.8

325

350.85

ICICIBANK

EQ

28-Nov-08

340

355

316.35

351.65

ICICIBANK

EQ

1-Dec-08

358

364.8

322

325.55

ICICIBANK

EQ

2-Dec-08

313

328

308.25

323.4

ICICIBANK

EQ

3-Dec-08

340

342

322

334.8

ICICIBANK

EQ

4-Dec-08

335

366.2

333.6

364

ICICIBANK

EQ

5-Dec-08

366

391

351.55

358.4

ICICIBANK

EQ

8-Dec-08

380

387.8

365.1

370

ICICIBANK

EQ

10-Dec-08

375.5

404.7

375

400.05

ICICIBANK

EQ

11-Dec-08

404

419

393.1

406.1

ICICIBANK

EQ

12-Dec-08

393

415.95

383.25

411

ICICIBANK

EQ

15-Dec-08

425

434

412.2

418.7

ICICIBANK

EQ

16-Dec-08

416.55

427.95

412.8

421

ICICIBANK

EQ

17-Dec-08

429

447

427.95

431.8

ICICIBANK

EQ

18-Dec-08

430

481.5

424.25

472

ICICIBANK

EQ

19-Dec-08

462.2

477.4

455.75

472.8

ICICIBANK

EQ

22-Dec-08

472

472.75

442.3

445.7

ICICIBANK

EQ

23-Dec-08

443

445.9

418.2

426.85

ICICIBANK

EQ

24-Dec-08

425

446.4

417

440.95

ICICIBANK

EQ

26-Dec-08

435.25

453.35

413.35

417.35

ICICIBANK

EQ

29-Dec-08

421

448.7

404.2

445

ICICIBANK

EQ

30-Dec-08

450

464.85

442.35

458.6

ICICIBANK

EQ

31-Dec-08

472.8

472.8

444

448.1

ICICIBANK

EQ

1-Jan-09

450

466.95

450

464.15

ICICIBANK

EQ

2-Jan-09

465

479.8

462.25

471.25

ICICIBANK

EQ

5-Jan-09

475.5

504

474.15

499.9

ICICIBANK

EQ

6-Jan-09

480

530.7

480

523.45

ICICIBANK

EQ

7-Jan-09

528

538.6

454.05

467.85

ICICIBANK

EQ

9-Jan-09

458.7

483

441

456.6

ICICIBANK

EQ

12-Jan-09

440

463.3

428.2

438

ICICIBANK

EQ

13-Jan-09

435

448.4

418.05

425.45

ICICIBANK

EQ

14-Jan-09

428.65

451

428.65

441.1

ICICIBANK

EQ

15-Jan-09

429

429

398.3

408.65

ICICIBANK

EQ

16-Jan-09

415

427.7

408.65

423.75

ICICIBANK

EQ

19-Jan-09

425

444.4

408.5

412.6

ICICIBANK

EQ

20-Jan-09

403

407.8

390.25

396.3

ICICIBANK

EQ

21-Jan-09

389.7

389.7

360

369.35

ICICIBANK

EQ

22-Jan-09

381.95

385.9

358.75

378.05

ICICIBANK

EQ

23-Jan-09

331.55

391

331.55

363.85

ICICIBANK

EQ

27-Jan-09

372.95

389

359.1

381.1

ICICIBANK

EQ

28-Jan-09

386.95

412.5

382.45

408.05

ICICIBANK

EQ

29-Jan-09

430

433.7

402.6

410.1

ICICIBANK

EQ

30-Jan-09

402

418.9

395

416.25

ICICIBANK

EQ

2-Feb-09

402.55

412.1

383

385.1

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

3-Feb-09

390

404.7

383.1

392

ICICIBANK

EQ

4-Feb-09

395

405.25

386.3

389.7

ICICIBANK

EQ

5-Feb-09

390.1

396.55

385.05

390.55

ICICIBANK

EQ

6-Feb-09

399

408.85

396

407.1

ICICIBANK

EQ

9-Feb-09

406.35

429.8

406.35

428.35

ICICIBANK

EQ

10-Feb-09

428

442

420.2

428.7

ICICIBANK

EQ

11-Feb-09

420.1

437.9

400.6

435.2

ICICIBANK

EQ

12-Feb-09

433.7

434.4

416.7

421.4

ICICIBANK

EQ

13-Feb-09

423.05

438.4

423.05

434.4

ICICIBANK

EQ

16-Feb-09

433.5

439.9

405.95

409

ICICIBANK

EQ

17-Feb-09

438.8

438.8

380.2

385.7

ICICIBANK

EQ

18-Feb-09

383

384.8

365

369.5

ICICIBANK

EQ

19-Feb-09

367

379.7

359.25

361.5

ICICIBANK

EQ

20-Feb-09

356

358.65

331

335.85

ICICIBANK

EQ

24-Feb-09

325

341.9

318.4

335.95

ICICIBANK

EQ

25-Feb-09

341

349.9

338.4

340.6

ICICIBANK

EQ

26-Feb-09

332.3

343.4

318.6

324.85

ICICIBANK

EQ

27-Feb-09

324

334

311.05

327.55

ICICIBANK

EQ

2-Mar-09

324.7

324.7

300

304.4

ICICIBANK

EQ

3-Mar-09

295

313.2

293.3

295.6

ICICIBANK

EQ

4-Mar-09

298

302.8

280.1

284.9

ICICIBANK

EQ

5-Mar-09

287

294.75

266.1

270.05

ICICIBANK

EQ

6-Mar-09

263.7

284.9

252.3

269.15

ICICIBANK

EQ

9-Mar-09

268.85

272.4

258

262.95

ICICIBANK

EQ

12-Mar-09

274.4

288.4

270.25

284.15

ICICIBANK

EQ

13-Mar-09

296

312.75

292

308.65

ICICIBANK

EQ

16-Mar-09

311.45

325

307.05

322.8

ICICIBANK

EQ

17-Mar-09

324.5

337.3

314.05

323.4

ICICIBANK

EQ

18-Mar-09

328.95

342

327

334.65

ICICIBANK

EQ

19-Mar-09

335.35

346.5

326.25

337.9

ICICIBANK

EQ

20-Mar-09

332.2

336.5

321.05

323.05

ICICIBANK

EQ

23-Mar-09

329

349.9

326.4

346.8

ICICIBANK

EQ

24-Mar-09

353.9

373.8

351.25

355.45

ICICIBANK

EQ

25-Mar-09

360

369.9

349.15

365.55

ICICIBANK

EQ

26-Mar-09

374

377

364.7

375.05

ICICIBANK

EQ

27-Mar-09

377.1

387.8

374.35

385.2

ICICIBANK

EQ

30-Mar-09

376.9

377

334.6

338.1

ICICIBANK

EQ

31-Mar-09

340.5

346.3

314.3

332.8

ICICIBANK

EQ

1-Apr-09

349.7

353.9

323.65

349.35

ICICIBANK

EQ

2-Apr-09

360

378.7

356.25

360.7

ICICIBANK

EQ

6-Apr-09

373

380.7

362.85

374.8

ICICIBANK

EQ

8-Apr-09

360.45

379.6

346.65

376.4

ICICIBANK

EQ

9-Apr-09

384

402

371.2

397.8

ICICIBANK

EQ

13-Apr-09

405

421.5

405

416.6

ICICIBANK

EQ

15-Apr-09

410

457

371.55

442.9

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

16-Apr-09

469.6

469.6

422.15

427.55

ICICIBANK

EQ

17-Apr-09

435

457

432

440.85

ICICIBANK

EQ

20-Apr-09

439.25

456

423.55

426.65

ICICIBANK

EQ

21-Apr-09

411.55

416.35

391.3

398.75

ICICIBANK

EQ

22-Apr-09

399

413

390.6

400.05

ICICIBANK

EQ

23-Apr-09

398

431.6

395.1

424.4

ICICIBANK

EQ

24-Apr-09

420

439.4

415.1

434.1

ICICIBANK

EQ

27-Apr-09

425

477.95

411.1

467.55

ICICIBANK

EQ

28-Apr-09

468

470

433.05

439.2

ICICIBANK

EQ

29-Apr-09

444

484.5

444

479.2

ICICIBANK

EQ

4-May-09

490.1

533.8

490

529.9

ICICIBANK

EQ

5-May-09

530

574

530

569.1

ICICIBANK

EQ

6-May-09

570

575

532.5

539.6

ICICIBANK

EQ

7-May-09

545

557.35

538.2

549.3

ICICIBANK

EQ

8-May-09

550

550.9

515.15

520.75

ICICIBANK

EQ

11-May-09

532.25

547.75

513

523.35

ICICIBANK

EQ

12-May-09

519

563.55

517.1

558.1

ICICIBANK

EQ

13-May-09

568

574.7

541.6

551.15

ICICIBANK

EQ

14-May-09

540

540

519

536.25

ICICIBANK

EQ

15-May-09

545.8

579

542

574.7

ICICIBANK

EQ

18-May-09

679.8

740

661

707.1

ICICIBANK

EQ

19-May-09

732

800

679

756.15

ICICIBANK

EQ

20-May-09

746

746

696.6

708.9

ICICIBANK

EQ

21-May-09

697

709.65

667.3

673.05

ICICIBANK

EQ

22-May-09

665

713.6

651

702.65

ICICIBANK

EQ

25-May-09

709.7

717.5

695.65

704.65

ICICIBANK

EQ

26-May-09

704.95

710

658.2

666

ICICIBANK

EQ

27-May-09

680.95

714.4

680.95

710.25

ICICIBANK

EQ

28-May-09

714.9

739.9

700.2

730.3

ICICIBANK

EQ

29-May-09

733.9

754.9

731

740.15

ICICIBANK

EQ

1-Jun-09

758.7

760.7

708.65

722.55

ICICIBANK

EQ

2-Jun-09

730

749.95

703.8

732.3

ICICIBANK

EQ

3-Jun-09

745

747.65

708.5

719.45

ICICIBANK

EQ

4-Jun-09

714.1

738.7

693.5

733.5

ICICIBANK

EQ

5-Jun-09

740.5

764.45

740.5

754.75

ICICIBANK

EQ

8-Jun-09

774

774

718.1

724.65

ICICIBANK

EQ

9-Jun-09

720

748.75

705.2

737.85

ICICIBANK

EQ

10-Jun-09

747

761.8

736

747.7

ICICIBANK

EQ

11-Jun-09

749.65

759.9

732.7

750.3

ICICIBANK

EQ

12-Jun-09

770

779.6

738

742.45

ICICIBANK

EQ

15-Jun-09

730

752

722.5

734.75

ICICIBANK

EQ

16-Jun-09

712.4

739.5

712.4

734.4

ICICIBANK

EQ

17-Jun-09

730

749.5

715

722.45

ICICIBANK

EQ

18-Jun-09

710.6

734.4

693.35

703.25

ICICIBANK

EQ

19-Jun-09

701.65

724

682

714.05

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

22-Jun-09

720.3

750

717

731

ICICIBANK

EQ

23-Jun-09

703

714

682.5

697.2

ICICIBANK

EQ

24-Jun-09

702

704.8

675.05

689.4

ICICIBANK

BL

25-Jun-09

701

701

701

701

ICICIBANK

EQ

25-Jun-09

694.7

714.6

691.5

700

ICICIBANK

EQ

26-Jun-09

711.8

760

707.5

756.15

ICICIBANK

EQ

29-Jun-09

764.7

772.7

740.75

748.7

ICICIBANK

EQ

30-Jun-09

750

753.9

715.5

722.2

ICICIBANK

EQ

1-Jul-09

720

738.9

703.3

729.85

ICICIBANK

EQ

2-Jul-09

736.9

744.85

719

733.5

ICICIBANK

EQ

3-Jul-09

720.5

760

716.25

754.95

ICICIBANK

EQ

6-Jul-09

760

777

665

679.7

ICICIBANK

EQ

7-Jul-09

690

713

685

694.85

ICICIBANK

EQ

8-Jul-09

688

688.8

642.25

653.1

ICICIBANK

EQ

9-Jul-09

670

670

620.1

635.4

ICICIBANK

EQ

10-Jul-09

636

657.4

619.4

628.85

ICICIBANK

EQ

13-Jul-09

620

644

606.15

632.95

ICICIBANK

EQ

14-Jul-09

645.15

685

645.15

679.5

ICICIBANK

EQ

15-Jul-09

690

707.9

669.1

696.4

ICICIBANK

EQ

16-Jul-09

711.1

719.9

688.2

693.85

ICICIBANK

EQ

17-Jul-09

701.1

748.5

701.1

742.85

ICICIBANK

EQ

20-Jul-09

754

794.5

739.05

784.75

ICICIBANK

EQ

21-Jul-09

794.9

795

767.2

772.7

ICICIBANK

EQ

22-Jul-09

772

807.7

752.3

759.55

ICICIBANK

EQ

23-Jul-09

770.55

788.95

758.5

775.75

ICICIBANK

EQ

24-Jul-09

782.8

794.7

760

767.55

ICICIBANK

EQ

27-Jul-09

772.65

782

746.5

757.9

ICICIBANK

EQ

28-Jul-09

759.7

760

732

740.35

ICICIBANK

EQ

29-Jul-09

740

744.7

717.55

732.75

ICICIBANK

EQ

30-Jul-09

727.1

763.7

722

757.2

ICICIBANK

EQ

31-Jul-09

774

776.9

751

758.5

ICICIBANK

EQ

3-Aug-09

763.95

775.05

748.2

773.75

ICICIBANK

EQ

4-Aug-09

772

785.5

753.5

763.55

ICICIBANK

EQ

5-Aug-09

769.95

778

758

773.4

ICICIBANK

EQ

6-Aug-09

770

803.9

755

766.15

ICICIBANK

EQ

7-Aug-09

763

764.8

733

738.1

ICICIBANK

EQ

10-Aug-09

745.65

758.45

713

718.7

ICICIBANK

EQ

11-Aug-09

734.45

734.45

702.65

717.1

ICICIBANK

EQ

12-Aug-09

710

714

690.2

710.15

ICICIBANK

EQ

13-Aug-09

724

759.9

724

757.2

ICICIBANK

EQ

14-Aug-09

765

765

738.15

744.85

ICICIBANK

EQ

17-Aug-09

733.7

736

702.1

704.95

ICICIBANK

EQ

18-Aug-09

710.15

728

697.35

720.05

ICICIBANK

EQ

19-Aug-09

723

725

700.4

716.55

ICICIBANK

EQ

20-Aug-09

724.9

734.8

714.15

719.55

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

21-Aug-09

719.9

749.25

706.95

745.4

ICICIBANK

EQ

24-Aug-09

750

773.9

750

767.95

ICICIBANK

EQ

25-Aug-09

761.15

767

750.35

759.2

ICICIBANK

EQ

26-Aug-09

760

768.4

752.5

761.9

ICICIBANK

EQ

27-Aug-09

755

760

746.85

750.55

ICICIBANK

EQ

28-Aug-09

749.85

770.75

749.85

763.6

ICICIBANK

EQ

31-Aug-09

754.5

762.9

743

751.15

ICICIBANK

EQ

1-Sep-09

752.2

775.6

740

744.8

ICICIBANK

EQ

2-Sep-09

735

745

723

736.1

ICICIBANK

EQ

3-Sep-09

741

751.9

730.1

735.95

ICICIBANK

EQ

4-Sep-09

739

752.5

731

743.9

ICICIBANK

EQ

7-Sep-09

748.8

796.9

748.6

788.85

ICICIBANK

EQ

8-Sep-09

795

806.5

781.7

789.95

ICICIBANK

EQ

9-Sep-09

787

799

783.6

792.9

ICICIBANK

EQ

10-Sep-09

805

828.4

803.5

816.6

ICICIBANK

EQ

11-Sep-09

830

844.65

818.25

835.15

ICICIBANK

EQ

14-Sep-09

820

834.95

818.1

824.6

ICICIBANK

EQ

15-Sep-09

830

847

829

844.4

ICICIBANK

EQ

16-Sep-09

850.05

869.95

850.05

864.5

ICICIBANK

EQ

17-Sep-09

878.85

884.1

863.15

872.3

ICICIBANK

EQ

18-Sep-09

870

870

838.45

841.2

ICICIBANK

EQ

22-Sep-09

842

858.45

837

852.5

ICICIBANK

EQ

23-Sep-09

855

860.9

840.05

845.2

ICICIBANK

EQ

24-Sep-09

835

927.6

830.35

860.45

ICICIBANK

EQ

25-Sep-09

850

854.5

836.1

839

ICICIBANK

EQ

29-Sep-09

893.7

893.7

850

866.35

ICICIBANK

EQ

30-Sep-09

860.2

909.95

860.2

907.6

ICICIBANK

EQ

1-Oct-09

818

933.9

818

926.6

ICICIBANK

EQ

5-Oct-09

900

920.9

896.9

912.4

ICICIBANK

EQ

6-Oct-09

917.15

944.7

893.1

938.2

ICICIBANK

EQ

7-Oct-09

945

954.1

913.9

918.4

ICICIBANK

EQ

8-Oct-09

922.65

934.9

912.9

922.95

ICICIBANK

EQ

9-Oct-09

924

924.65

895.2

901.8

ICICIBANK

EQ

12-Oct-09

894.5

925

891.3

920.2

ICICIBANK

EQ

14-Oct-09

924.65

933.9

916.85

921

ICICIBANK

EQ

15-Oct-09

927.45

942.75

914.2

935.95

ICICIBANK

EQ

16-Oct-09

926.15

969.8

926.15

959.1

ICICIBANK

EQ

17-Oct-09

980

980

941.6

948.15

ICICIBANK

EQ

20-Oct-09

948.75

966

940.05

944.45

ICICIBANK

EQ

21-Oct-09

937

941.3

922.25

929.1

ICICIBANK

EQ

22-Oct-09

918

921

886

891.4

ICICIBANK

EQ

23-Oct-09

904

911.85

895.1

903.7

ICICIBANK

EQ

26-Oct-09

909

920

887.05

890.85

ICICIBANK

EQ

27-Oct-09

885

899.45

826.15

834.45

ICICIBANK

EQ

28-Oct-09

827

830

787

809.45

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

29-Oct-09

791

805.05

756.65

771.75

ICICIBANK

EQ

30-Oct-09

785

810.3

763.9

790.8

ICICIBANK

EQ

3-Nov-09

786.3

823.7

774.05

786.3

ICICIBANK

EQ

4-Nov-09

796

831.8

794.9

827.75

ICICIBANK

EQ

5-Nov-09

832

847.95

808.45

844.65

ICICIBANK

EQ

6-Nov-09

856.95

862.7

840.5

848.55

ICICIBANK

EQ

9-Nov-09

849

892.5

844.6

888.5

ICICIBANK

EQ

10-Nov-09

899.9

908.8

890.25

896.55

ICICIBANK

EQ

11-Nov-09

897

929

886

924.5

ICICIBANK

EQ

12-Nov-09

927

928.5

883

892.6

ICICIBANK

EQ

13-Nov-09

899.2

914.9

891.5

908.95

ICICIBANK

EQ

16-Nov-09

911.1

932

911.1

919.3

ICICIBANK

EQ

17-Nov-09

922

924.9

900.05

920.55

ICICIBANK

EQ

18-Nov-09

915

918

901

905.5

ICICIBANK

EQ

19-Nov-09

904.35

904.9

878

886.45

ICICIBANK

EQ

20-Nov-09

880

901

858

897

ICICIBANK

EQ

23-Nov-09

900

923.75

895.2

917.25

ICICIBANK

EQ

24-Nov-09

915.15

916

896.25

909.35

ICICIBANK

EQ

25-Nov-09

904.1

909

887.2

901.85

ICICIBANK

EQ

26-Nov-09

896.5

896.8

860

865.5

ICICIBANK

EQ

27-Nov-09

850

856.9

811

850.9

ICICIBANK

EQ

30-Nov-09

900

900

860

867.85

ICICIBANK

EQ

1-Dec-09

876

889.9

865.05

887.2

ICICIBANK

EQ

2-Dec-09

894.85

917.45

888

893.55

ICICIBANK

EQ

3-Dec-09

892

904.95

877.2

884.25

ICICIBANK

EQ

4-Dec-09

875

881.35

865

871.45

ICICIBANK

EQ

7-Dec-09

874

881.3

856.1

860.7

ICICIBANK

EQ

8-Dec-09

860

877.75

851.6

872.45

ICICIBANK

EQ

9-Dec-09

866.7

871.8

853

855.3

ICICIBANK

EQ

10-Dec-09

855.3

878

844.3

875.95

ICICIBANK

EQ

11-Dec-09

887.7

887.7

853.35

864.5

ICICIBANK

EQ

14-Dec-09

858.5

868.65

847.5

850.7

ICICIBANK

EQ

15-Dec-09

844.4

856.9

824

825.65

ICICIBANK

EQ

16-Dec-09

817

835.7

814.35

822.6

ICICIBANK

EQ

17-Dec-09

821

831.9

813

825.8

ICICIBANK

EQ

18-Dec-09

816.9

824.4

804.1

809.35

ICICIBANK

EQ

21-Dec-09

809

818.9

800.5

810.9

ICICIBANK

EQ

22-Dec-09

817.9

829

816

825.7

ICICIBANK

EQ

23-Dec-09

830

865

828

862.6

ICICIBANK

EQ

24-Dec-09

865

871.9

855

864.9

ICICIBANK

EQ

29-Dec-09

864.9

884

864.9

880.2

ICICIBANK

EQ

30-Dec-09

880

888.65

872.8

879.8

ICICIBANK

EQ

31-Dec-09

884.9

889.7

868.3

877

ICICIBANK

EQ

4-Jan-10

877

885

875

879.7

ICICIBANK

EQ

5-Jan-10

888

899.75

881.5

888.05

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

6-Jan-10

895

907.35

890.1

894.85

ICICIBANK

EQ

7-Jan-10

896.75

896.75

876.5

886.4

ICICIBANK

EQ

8-Jan-10

889.1

890

871

873.95

ICICIBANK

EQ

11-Jan-10

878

881.8

865.95

869.4

ICICIBANK

EQ

12-Jan-10

869.4

872

840

842.75

ICICIBANK

EQ

13-Jan-10

821.65

844.2

821.65

840.65

ICICIBANK

EQ

14-Jan-10

847

861

831.2

835.3

ICICIBANK

EQ

15-Jan-10

840.25

848.6

830.45

842.45

ICICIBANK

EQ

18-Jan-10

834

868.8

830.3

863.35

ICICIBANK

EQ

19-Jan-10

864

876

859

865.5

ICICIBANK

EQ

20-Jan-10

869.8

884.6

868.95

877.95

ICICIBANK

EQ

21-Jan-10

869.85

873

842.3

852.7

ICICIBANK

EQ

22-Jan-10

829

847

820.85

840.7

ICICIBANK

EQ

25-Jan-10

831.6

839.15

825.25

830.8

ICICIBANK

EQ

27-Jan-10

820

827.4

780

787.3

ICICIBANK

EQ

28-Jan-10

800

807.8

779.25

788.05

ICICIBANK

EQ

29-Jan-10

775

839

775

830.35

ICICIBANK

EQ

1-Feb-10

820.1

848.4

815

835.8

ICICIBANK

EQ

2-Feb-10

841

842.45

815.8

819

ICICIBANK

EQ

3-Feb-10

825.1

845

823.25

839.45

ICICIBANK

EQ

4-Feb-10

834.8

849

825.5

828.8

ICICIBANK

EQ

5-Feb-10

809.8

809.8

790

798.15

ICICIBANK

EQ

6-Feb-10

800.5

805

792.5

801.3

ICICIBANK

EQ

8-Feb-10

850

850

786

805.35

ICICIBANK

EQ

9-Feb-10

806

818

791.4

812.4

ICICIBANK

EQ

10-Feb-10

818

821.55

796.85

799.8

ICICIBANK

EQ

11-Feb-10

790.1

829.8

790.1

826.05

ICICIBANK

EQ

15-Feb-10

832

832

812.5

817.35

ICICIBANK

EQ

16-Feb-10

817

837.8

817

832.45

ICICIBANK

EQ

17-Feb-10

840

847.7

830.6

840.95

ICICIBANK

EQ

18-Feb-10

840

853

834.35

840.05

ICICIBANK

EQ

19-Feb-10

832

837

817.1

833.55

ICICIBANK

EQ

22-Feb-10

845.15

850

828.75

831.6

ICICIBANK

EQ

23-Feb-10

829.9

852

825.6

847.75

ICICIBANK

EQ

24-Feb-10

840.1

845.9

833

841.15

ICICIBANK

EQ

25-Feb-10

841.25

857.8

832.7

851.6

ICICIBANK

EQ

26-Feb-10

845.3

887

842

872.15

ICICIBANK

EQ

2-Mar-10

885.1

903

885.1

897.15

ICICIBANK

EQ

3-Mar-10

899.9

912.5

895.35

908.35

ICICIBANK

EQ

4-Mar-10

906

914.55

889.2

898.4

ICICIBANK

EQ

5-Mar-10

898.1

909

891.65

901.75

ICICIBANK

EQ

8-Mar-10

910

926.8

910

923.75

ICICIBANK

EQ

9-Mar-10

922

934.6

909.05

925.15

ICICIBANK

EQ

10-Mar-10

925

929.5

908.4

917.8

ICICIBANK

EQ

11-Mar-10

915

936.7

913.1

930.85

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

12-Mar-10

935.05

941.9

931.2

936.65

ICICIBANK

EQ

15-Mar-10

930

935

856

923.75

ICICIBANK

EQ

16-Mar-10

921

934.9

912.2

930.5

ICICIBANK

EQ

17-Mar-10

935

953.6

932

948.55

ICICIBANK

EQ

18-Mar-10

950.05

969.5

949

963.65

ICICIBANK

EQ

19-Mar-10

963

968.9

948.45

956.55

ICICIBANK

EQ

22-Mar-10

949

949

921

935.25

ICICIBANK

EQ

23-Mar-10

939

946

922

925.5

ICICIBANK

EQ

25-Mar-10

920

940

912.6

933.85

ICICIBANK

EQ

26-Mar-10

939

951.9

935.25

947.5

ICICIBANK

EQ

29-Mar-10

945

959

939.5

952.6

ICICIBANK

EQ

30-Mar-10

956.1

968.4

954.85

959.8

ICICIBANK

EQ

31-Mar-10

964.8

970.8

948.7

952.5

ICICIBANK

EQ

1-Apr-10

957

961.9

944.3

952.65

ICICIBANK

EQ

5-Apr-10

955

990.7

955

985.35

ICICIBANK

EQ

6-Apr-10

991.9

1009.7

985.35

997.8

ICICIBANK

EQ

7-Apr-10

1002.7

1009

980.1

987.35

ICICIBANK

EQ

8-Apr-10

982.2

988

957.7

961.1

ICICIBANK

EQ

9-Apr-10

962.3

981.95

962

978.3

ICICIBANK

EQ

12-Apr-10

980

984.9

961.25

964.65

ICICIBANK

EQ

13-Apr-10

964.65

966.5

940.35

942.2

ICICIBANK

EQ

15-Apr-10

947.8

957.9

915.3

918

ICICIBANK

EQ

16-Apr-10

917

936.9

915.3

922.45

ICICIBANK

EQ

19-Apr-10

913.8

926.55

902.55

919.8

ICICIBANK

EQ

20-Apr-10

922

945

920

933

ICICIBANK

EQ

21-Apr-10

939.95

954.5

939

951.9

ICICIBANK

EQ

22-Apr-10

945.5

964.65

935.15

943.85

ICICIBANK

EQ

23-Apr-10

949

979.8

945

977.7

ICICIBANK

EQ

26-Apr-10

980.1

998.15

958.4

960.15

ICICIBANK

EQ

27-Apr-10

958

960

935.15

946.95

ICICIBANK

EQ

28-Apr-10

931.3

940.95

913.4

919.45

ICICIBANK

EQ

29-Apr-10

923

951

923

947.05

ICICIBANK

EQ

30-Apr-10

952.9

964.4

947.15

951.95

ICICIBANK

EQ

3-May-10

946.1

957.95

933

936.9

ICICIBANK

EQ

4-May-10

941.9

946.6

909

915.2

ICICIBANK

EQ

5-May-10

910

910

887.25

903.65

ICICIBANK

EQ

6-May-10

898.45

912.55

891

902.85

ICICIBANK

EQ

7-May-10

884.9

892

869

876.6

ICICIBANK

EQ

10-May-10

889.9

928

888.6

922.1

ICICIBANK

EQ

11-May-10

922

934

908

916.6

ICICIBANK

EQ

12-May-10

922

923.4

906.1

914.75

ICICIBANK

EQ

13-May-10

922

934

921.05

927

ICICIBANK

EQ

14-May-10

925.05

925.05

905

911.05

ICICIBANK

EQ

17-May-10

898

904.9

883.05

901.1

ICICIBANK

EQ

18-May-10

902.25

902.25

882.5

889.2

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

19-May-10

880

884

818

824.45

ICICIBANK

EQ

20-May-10

831

847

815.5

831.65

ICICIBANK

EQ

21-May-10

812.95

839.05

807.3

834.8

ICICIBANK

EQ

24-May-10

839.5

949.6

825

832.1

ICICIBANK

EQ

25-May-10

821.1

821.1

802.35

809.35

ICICIBANK

EQ

26-May-10

825.05

850.75

821.2

847.75

ICICIBANK

EQ

27-May-10

845

865

833.25

856.8

ICICIBANK

EQ

28-May-10

862.1

877

848.65

864.75

ICICIBANK

EQ

31-May-10

864.75

874.45

857.4

868.3

ICICIBANK

EQ

1-Jun-10

851.65

864.8

833.1

837.95

ICICIBANK

EQ

2-Jun-10

844.7

849.9

823

842.3

ICICIBANK

EQ

3-Jun-10

851.4

859.05

848.2

854.1

ICICIBANK

EQ

4-Jun-10

854.1

868.6

854.1

865.85

ICICIBANK

EQ

7-Jun-10

712

850

712

841.95

ICICIBANK

EQ

8-Jun-10

839

844.7

813.1

817.5

ICICIBANK

EQ

9-Jun-10

817

839.9

817

824.55

ICICIBANK

EQ

10-Jun-10

822.8

834.2

814

829.05

ICICIBANK

EQ

11-Jun-10

845

850

831.8

846

ICICIBANK

EQ

14-Jun-10

855

859

843.4

853.65

ICICIBANK

EQ

15-Jun-10

853.65

864.85

839.3

860.1

ICICIBANK

EQ

16-Jun-10

869

879.9

860.05

876.75

ICICIBANK

EQ

17-Jun-10

878

891.9

846

883.85

ICICIBANK

EQ

18-Jun-10

876.1

885

864.05

869.3

ICICIBANK

EQ

21-Jun-10

878.9

910

875.6

899.8

ICICIBANK

EQ

22-Jun-10

897

905.8

888.4

891.6

ICICIBANK

EQ

23-Jun-10

886.1

904.7

881.55

900.4

ICICIBANK

EQ

24-Jun-10

898.2

902

878.15

885.7

ICICIBANK

EQ

25-Jun-10

880

881.95

851.55

856.55

ICICIBANK

EQ

28-Jun-10

852

871.95

852

870.15

ICICIBANK

EQ

29-Jun-10

870.15

870.15

841.65

848.3

ICICIBANK

EQ

30-Jun-10

836.1

864.35

834.25

861.7

ICICIBANK

EQ

1-Jul-10

854.45

857

836.55

841.45

ICICIBANK

EQ

2-Jul-10

842.5

847.75

833.2

840.05

ICICIBANK

EQ

5-Jul-10

838

845.7

834

840.6

ICICIBANK

EQ

6-Jul-10

839.5

861.7

838.45

858.8

ICICIBANK

EQ

7-Jul-10

857

858.1

844.25

846.2

ICICIBANK

EQ

8-Jul-10

858

865.8

855.05

862.3

ICICIBANK

EQ

9-Jul-10

866.5

879

866

875.9

ICICIBANK

EQ

12-Jul-10

884.9

895

876.05

893.45

ICICIBANK

EQ

13-Jul-10

860.25

901

860.25

899.45

ICICIBANK

EQ

14-Jul-10

903

914.45

886.15

891.25

ICICIBANK

EQ

15-Jul-10

889.05

900.85

878.3

881.85

ICICIBANK

EQ

16-Jul-10

886

905

886

902.4

ICICIBANK

EQ

19-Jul-10

895.1

904.35

887

900.05

ICICIBANK

EQ

20-Jul-10

900.05

906.1

883

886.85

Rammohan Atmakuri, IFIM Bschool, Bangalore.

Report on Fundamental & Technical Analysis of ICICI BANK ICICIBANK

EQ

21-Jul-10

894

904.9

890.65

902.6

ICICIBANK

EQ

22-Jul-10

899

910

886.2

908.7

ICICIBANK

EQ

23-Jul-10

915

920.8

905.4

912.85

ICICIBANK

EQ

26-Jul-10

918.8

926.4

911.2

916.7

ICICIBANK

EQ

27-Jul-10

915.3

927.5

898.25

924.2

ICICIBANK

EQ

28-Jul-10

925

925.5

902.5

908.85

ICICIBANK

EQ

29-Jul-10

902

932

900.3

928.7

ICICIBANK

EQ

30-Jul-10

927

931.5

900

904.9

ICICIBANK

EQ

2-Aug-10

912

941.9

911

939.55

ICICIBANK

EQ

3-Aug-10

944.4

966

943

962

ICICIBANK

EQ

4-Aug-10

963.05

973

957.05

969.25

ICICIBANK

EQ

5-Aug-10

973

973

952.65

955.4

ICICIBANK

EQ

6-Aug-10

955

963

942.55

949.8

ICICIBANK

EQ

9-Aug-10

949

982

949

980.1

ICICIBANK

EQ

10-Aug-10

977.15

995

966.65

988.9

ICICIBANK

EQ

11-Aug-10

980.1

999

962.7

971.85

ICICIBANK

EQ

12-Aug-10

964

988

957

963.3

ICICIBANK

EQ

13-Aug-10

969.9

984.8

963.3

976.4

ICICIBANK

EQ

16-Aug-10

977

981

953.1

957.1

ICICIBANK

EQ

17-Aug-10

957.5

969.8

952.5

958.9

ICICIBANK

EQ

18-Aug-10

962

977

951.1

967.9

ICICIBANK

EQ

19-Aug-10

972.05

1015.9

972.05

1013

ICICIBANK

EQ

20-Aug-10

1005.55

1009.95

991.6

994

ICICIBANK

EQ

23-Aug-10

993.5

1016.7

985

1011.5

ICICIBANK

EQ

24-Aug-10

1006

1024

998

1001.7

ICICIBANK

EQ

25-Aug-10

993.25

1003.85

981.65

984.3

ICICIBANK

EQ

26-Aug-10

985

995

976.1

983.55

ICICIBANK

EQ

27-Aug-10

990

990

953.25

957.45

ICICIBANK

EQ

30-Aug-10

966.9

980.95

958.15

967.9

ICICIBANK

EQ

31-Aug-10

962

981.5

960

977.7

ICICIBANK

EQ

1-Sep-10

980.35

1002.7

980.35

995

Rammohan Atmakuri, IFIM Bschool, Bangalore.