Hectic coverage of ICICIBank in the last one month in this blog came to climax finally at the end of this month. Clearly upside was mentioned here on 14th June post http://niftyswings.blogspot.com/2010/06/shorting-opportunity-in-icicibank.html. Stock was so weak that it didn't picked up any momentum when Nifty moved up from 5200 to 5380 and ICICI struggled to sustain 900 levels.
Seems like stars of ICICIBank were not good for this month. First it got hit by the rumors of U.S Law Suits but recovered thereafter (couldn't covered this that day as I read the article after some days) and then on 22nd morning Price targets were cut for ICICIBank by major investment banks like Goldman and JP Morgan. And yes we are finally 46 Rs down from the 900 levels. Currently stock is clearly struggling at 856 level and below 840 we can hope for 800 levels to finally emerge.
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