ICICI Bank, Max Health shares flash 'Buy' signals; check levels, targets

ICICI Bank & Max Health shares show bullish technical setups with breakout patterns and EMA crossovers, says Osho Krishan of Angel One. Check buy levels, stop loss, price targets for near-term upside

Angel One stock picks for today, Feb 16: 

 

NSE Scrip – ICICI BANK

View - Bullish

Last Close – ₹1,414

 

ICICI BANK share price has been in a secular uptrend, hovering above all its significant EMAs on the daily chart, with a higher high formation. The technical structure seems positive with the 'Flag' pattern breakout in the daily chart, followed by the SuperTrend indicator favouring the bullish price action. Additionally, there have been multiple positive crossovers within the EMAs in the recent period, adding to the bullish quotient. Hence, we recommend to BUY ICICI BANK stock around ₹1,410-1,400 | Stop loss: ₹1,375 | Share price target: ₹1,445-1,475.

 

 

NSE Scrip – MAXHEALTH

View - Bullish

Last Close – ₹1,053

 

MAXHEALTH share price has shown a rebound from the previous swing low in recent sessions and has surged above its 20 and 50 DEMA. From a technical perspective, the counter has shown an 'Inverted H&S' pattern, adding to the bullish quotient in the counter. Furthermore, the MACD histogram also portrays a bullish reversal signal on the daily time frame. Hence, we recommend to BUY MAX HEALTH stock around ₹1,050-1,040 | Stop loss: ₹990 | Share price target: ₹1,120-1,140.

     

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Disclaimer: This article is by Osho Krishan, chief manager, technical & derivatives research, Angel One. Views expressed are his own.