Saturday 20 September 2008

Buy ICICI Bank on dips: E Mathew

Technical Analyst, E Mathew is of the view that one should buy ICICI Bank on dips.
E Mathew told CNBC-TV18, "At a cursory glance, ICICI Bank just looks like a squeeze but I should say chaotically there is still quite a long way to go though it has been a magnificent move up today. I think, it could be a buy on dips strategy now for ICICI Bank and an important bottom has been made in place. If one has got a heart especially if one could get the stock somewhere round about Rs 590-595 zone, this stock could provide great opportunity not only for traders but as well as investors. The target for this move is surely somewhere round about Rs 685-700 zone."
Disclosure: It is safe to assume that analyst & his clients may have an investment interest in the stocks/sectors discussed.

MoneyControl

Posted by Harsh at 08:15

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.