ICICI Bank Remains Sell : Short Term Trend Is Down

ICICI Bank was a relative outperformer in the banking sector. From Rs 760 it went all the way to Rs 980 in the recent uptrend. So, it was a significant outperformer, even within the banking sector. But something has happened drastically in this stock. ICICI Bank has been falling almost consistently day after day. In five days, it has lost a lot of its gains.

For ICICI Bank short term trend is clearly down. So, for traders, ICICI Bank remains a sell. We must understand that at some point you should cover your short positions, if you have them because it is a relatively better bank. So, this is a very small short position that you should carry.

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