The stock of ICICI Bank (₹1,254.80) is in an oversold zone and therefore, despite the bearish outlook, we expect it to witness a pullback rally in the short-term.

Immediate support levels are ₹1,209 and ₹1,120. On the other hand, resistances are at ₹1,310 and ₹1,395. A close above ₹1,435 will reconfirm its bullish outlook.

F&O pointers: ICICI Bank March futures closed at ₹1,255.30 against the spot price of ₹1,254.80. Besides, ICICI Bank March futures witnessed a steady accumulation of open positions despite the stock being under pressure, signalling addition of short positions.

But option positioning indicates a possible movement within the ₹1,200-1,400 range and the stock is now near the bottom of this price band.

Strategy: Consider buying 1,270-call option on ICICI Bank, expecting a short-term relief rally. The option closed with a premium of  ₹20.65 and as the market lot is 700 shares, this would cost ₹14,455. This would be the maximum loss, which would happen if the stock pursues the downtrend. On the other hand, profit potentials are high if ICICI Bank recovers sharply.

Keep the stop loss at ₹15 initially. Shift it to ₹19 if the stock opens on a positive note and stays in the range. Traders can aim for a target of ₹35-40. We advise sticking to the stop-loss judiciously to protect profit and capital as the market is in high volatile zone. Avoid this trade if ICICI Bank opens below ₹1,240 or above ₹1,270 on Monday.

Follow-up: HAL hit the target.

Note: The recommendations are based on technical analysis and F&O positions. There is a risk of loss in trading

Published on March 14, 2026