Key Events This Week
23 Feb: Robust value turnover with Rs.185.78 crore traded and institutional interest surges
24 Feb: Narrow price range amid mixed technical signals and rising delivery volumes
25 Feb: Outperformance with 1.10% gain and significant delivery volume increase
26 Feb: High-value turnover exceeding Rs.417.44 crore and steady price gains
27 Feb: Consolidation with narrow range and strong institutional delivery volumes
23 February 2026: Strong Institutional Interest Drives Robust Trading
ICICI Bank began the week on a positive note, with the stock closing at Rs.1,399.10, up 0.40% on the day. The total traded volume reached 13,24,024 shares, translating into a substantial traded value of Rs.185.78 crore. Institutional investors showed heightened interest, with delivery volumes rising by 24.06% compared to the five-day average. The stock traded within a narrow band, touching an intraday high of Rs.1,406.20, signalling controlled price movement amid strong demand.
Technically, the stock was trading above its 20-day, 50-day, 100-day, and 200-day moving averages, indicating medium- to long-term bullish momentum. This robust liquidity and institutional participation underscored confidence in the bank’s fundamentals despite broader market uncertainties.
24 February 2026: Mixed Technical Signals Amid Narrow Price Range
The stock experienced a slight pullback, closing at Rs.1,384.80, down 1.02% for the day. Despite the decline, ICICI Bank maintained strong liquidity with over 13 lakh shares traded and a turnover exceeding Rs.182 crore. Delivery volumes surged by 47.05%, reflecting sustained institutional accumulation. The price action was confined within a narrow range, indicating consolidation after recent gains.
Technical indicators presented a mixed picture: the stock remained above key moving averages but traded below the 5-day and 200-day averages, suggesting short-term weakness and longer-term resistance. The sideways momentum was further confirmed by neutral RSI readings and a bullish weekly MACD contrasted by a mildly bearish monthly MACD, signalling a complex interplay of market forces.
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25 February 2026: Outperformance Supported by Institutional Buying
ICICI Bank rebounded strongly, closing at Rs.1,400.00, up 1.10% on the day and outperforming both the private sector banking sector (+0.40%) and the Sensex (+0.57%). The stock traded within a narrow range of Rs.12.60, reflecting consolidation amid steady demand. Delivery volumes surged by 90% compared to the five-day average, signalling robust institutional conviction.
The stock remained above its 5-day, 20-day, 50-day, and 100-day moving averages, indicating short- to medium-term bullish momentum. However, resistance at the 200-day moving average persisted, marking a key level to watch. The Mojo Grade upgrade to Hold earlier in the month likely contributed to renewed investor interest and confidence.
26 February 2026: High-Value Turnover and Steady Gains
Trading activity intensified with nearly 30 lakh shares changing hands and a traded value exceeding Rs.417.44 crore. The stock closed at Rs.1,404.95, up 0.35%, maintaining its position above key moving averages except the 200-day average. Delivery volumes rose by 70.25%, reinforcing the trend of strong institutional accumulation.
This robust liquidity and value turnover underscore the stock’s appeal to large investors seeking stable exposure in the private sector banking space. The Mojo Score of 54.0 and Hold rating reflect a balanced outlook amid cautious optimism.
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27 February 2026: Consolidation Amid Strong Institutional Delivery Volumes
The week closed with ICICI Bank trading in a narrow range, ending at Rs.1,379.00, down 1.85% on the day. Despite the decline, the stock’s delivery volume surged by 76.1%, reaching 1.58 crore shares, indicating strong institutional commitment. The traded value exceeded Rs.200 crore, highlighting sustained liquidity and market interest.
Technically, the stock remained above its 5-day, 20-day, 50-day, and 100-day moving averages but below the 200-day average, which continues to act as a resistance level. The stock’s performance closely mirrored sector and Sensex declines, reflecting broader market caution. The Mojo Grade Hold rating and a Mojo Score of 54.0 suggest a balanced stance amid mixed technical signals.
Daily Price Comparison: ICICI Bank Ltd. vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-23 | Rs.1,399.10 | +0.40% | 36,817.86 | +0.39% |
| 2026-02-24 | Rs.1,384.80 | -1.02% | 36,530.09 | -0.78% |
| 2026-02-25 | Rs.1,400.00 | +1.10% | 36,679.75 | +0.41% |
| 2026-02-26 | Rs.1,404.95 | +0.35% | 36,748.49 | +0.19% |
| 2026-02-27 | Rs.1,379.00 | -1.85% | 36,322.56 | -1.16% |
Key Takeaways
Positive Signals: The week saw strong institutional interest reflected in rising delivery volumes, which increased by up to 90% on 25 February and remained elevated through the week. High-value turnover consistently exceeded Rs.180 crore daily, underscoring robust liquidity. The stock maintained its position above key moving averages (5-day to 100-day), signalling medium-term bullish momentum. The Mojo Grade upgrade from Sell to Hold and a Mojo Score of 54.0 indicate improving fundamentals and cautious optimism.
Cautionary Notes: Despite these positives, the stock faced resistance at the 200-day moving average throughout the week, limiting upside potential. The technical momentum shifted from sideways to mildly bearish by week’s end, with mixed signals from MACD, RSI, and KST indicators. The stock’s 1.04% weekly decline, though modest, reflects short-term consolidation amid broader market volatility. Investors should monitor price action around the Rs.1,380–Rs.1,400 range, which appears critical for near-term direction.
Conclusion
ICICI Bank Ltd.’s performance over the week ending 27 February 2026 was characterised by strong institutional participation and high liquidity, supporting a stable trading environment despite a slight price decline. The stock’s technical indicators present a nuanced picture, with short-term consolidation and resistance at longer-term moving averages tempering bullish momentum. The Mojo Grade upgrade to Hold reflects a balanced outlook, recognising the bank’s solid fundamentals amid sectoral and macroeconomic challenges.
While the stock marginally underperformed its recent highs, its outperformance relative to the Sensex and sustained delivery volumes suggest underlying investor confidence. Market participants should watch for a decisive move above the 200-day moving average and continued institutional accumulation as key signals for a potential trend reversal. Until then, a cautious but attentive stance remains prudent for those tracking this large-cap banking heavyweight.
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