The Future of ICICI

Ravi asks in a blog post: “what is the future of ICICI and where will the Nifty close at expiry?”.

This question made me want to post an immediate reply. First, ICICI. I think the question is about share prices of ICICI rather than the company. My chart analysis suggests that ICICI Bank may outperform the broad market over the next year.

Now about the Nifty at Expiry. Frankly, I cannot give any idea on what the Nifty will be on a specific date.  For a trader wishing to keep a Nifty position till expiry, the current trend should be considered. We identify the current trend – UP. If the market appears to be topping out (in the short term), then maybe the trader can tighten stops, or exit partially or exit fully. But, we should not try to forecast a speicific price on a specific date and time. That’s for God to do.