Buy Call for ICICI Bank with target of Rs 460-485: Nirmal Bang

ICICIIn its latest research report, Nirmal Bang, an equity research firm said that ICICI Bank, which presently stuck in a band of 405-445, can give good returns within 4-5 trading session.

The report further stated that, if the counter is successful to breach 445, then it will create a huge breakout.

Nirmal Bang Research has advised its clients to hold the scrip with a target price of Rs 460-485.

In addition, the firm has suggested a support level for the scrip between Rs 421-405 and resistance level at Rs 445. Apart from Nirmal Bang, Vibhav Kapoor of IL&FS Investmart also believes that, ICICI Bank is still looking cheap as compared to the rest of the stocks in the sector. He stated during a recommendation call that the banking sector had a very good run up in the past few weeks and has outperformed the market as a whole. But even at current levels ICICI Bank is good for the medium-term and longer-term investors. Mr. Kapoor believes that the counter is still cheap considering the market share of ICICI.

ICICI Bank, Country's second largest lender, is a financial conglomerate with multiple lines of businesses, domestic and overseas.

Today, ICICI Bank stock opened at Rs 441, after the previous close of Rs 441.45 at BSE. Presently (1:52 pm), the stock is trading 440 on BSE.

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