Technical Trend Overview and Price Movement
As of 25 Feb 2026, ICICI Bank’s share price closed at ₹1,384.80, down 1.02% from the previous close of ₹1,399.10. The intraday range was relatively narrow, with a low of ₹1,382.10 and a high of ₹1,400.15. The stock remains comfortably above its 52-week low of ₹1,200.20 but still trails its 52-week high of ₹1,494.10 by approximately 7.3%. This price action reflects a cautious market sentiment amid evolving technical signals.
MACD Signals: Divergent Weekly and Monthly Perspectives
The Moving Average Convergence Divergence (MACD) indicator presents a mixed picture. On a weekly basis, the MACD remains bullish, indicating that short-term momentum is still positive and buyers retain some control. However, the monthly MACD has turned mildly bearish, signalling that longer-term momentum is weakening. This divergence suggests that while the stock may see intermittent rallies, the broader trend could be under pressure if monthly bearish momentum persists.
RSI and Bollinger Bands: Neutral Territory
The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no clear signal, hovering in neutral zones without indicating overbought or oversold conditions. Similarly, Bollinger Bands on weekly and monthly timeframes remain sideways, reflecting a consolidation phase with limited volatility expansion. This lack of directional bias from RSI and Bollinger Bands implies that the stock is in a phase of indecision, awaiting a catalyst to break out of its current range.
Moving Averages and KST: Mildly Bearish to Bullish Signals
Daily moving averages have shifted to a mildly bearish stance, suggesting that short-term price averages are trending lower. This aligns with the recent price dip below the previous close. Conversely, the Know Sure Thing (KST) indicator shows a mildly bullish signal on the weekly chart but mildly bearish on the monthly chart, reinforcing the theme of short-term resilience amid longer-term caution.
Volume and Dow Theory Analysis
On-Balance Volume (OBV) is mildly bearish on the weekly chart, indicating that volume trends are not strongly supporting upward price moves. The monthly OBV shows no clear trend, adding to the ambiguity. Dow Theory assessments on both weekly and monthly charts are mildly bearish, suggesting that the broader market sentiment for ICICI Bank is cautious, with potential for further downside if support levels fail to hold.
Comparative Returns: Outperforming Sensex Over Time
Despite the mixed technical signals, ICICI Bank has delivered robust returns relative to the Sensex. Over the past week, the stock declined by 1.59%, slightly more than the Sensex’s 1.47% drop. However, over longer periods, ICICI Bank has outperformed significantly: a 3.09% gain versus 0.84% for the Sensex in the past month; a year-to-date return of 3.12% compared to the Sensex’s negative 3.51%; and a one-year return of 13.48% against the Sensex’s 10.44%. Over three, five, and ten years, the stock’s cumulative returns of 64.93%, 115.90%, and 714.37% respectively, far exceed the Sensex’s 38.28%, 61.92%, and 256.13% gains. This long-term outperformance underscores the bank’s resilience and growth potential despite short-term technical headwinds.
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Mojo Score Upgrade Reflects Changing Market Perception
MarketsMOJO recently upgraded ICICI Bank’s Mojo Grade from Sell to Hold on 6 Feb 2026, reflecting an improved but cautious outlook. The current Mojo Score stands at 54.0, indicating a moderate level of confidence in the stock’s prospects. The Market Cap Grade remains at 1, signalling that despite its large-cap status, the stock’s valuation and momentum metrics warrant a neutral stance. This upgrade aligns with the technical indicators showing a transition from sideways to mildly bearish trends, suggesting that investors should monitor developments closely before committing to a stronger position.
Sector Context and Industry Positioning
Within the Private Sector Bank industry, ICICI Bank continues to hold a prominent position. However, the sector itself is experiencing mixed technical signals, with some peers showing stronger momentum while others face similar headwinds. The mildly bearish technical trend for ICICI Bank contrasts with pockets of bullishness in the sector, highlighting the importance of selective stock picking and timing in this space.
Investor Implications and Outlook
For investors, the current technical landscape suggests a cautious approach. The mildly bearish daily moving averages and monthly MACD warn of potential downside risks, while weekly bullish MACD and KST indicators offer some short-term support. The neutral RSI and Bollinger Bands imply that the stock is consolidating and could break decisively in either direction depending on broader market catalysts and company-specific news.
Given ICICI Bank’s strong long-term returns and recent Mojo Grade upgrade, investors may consider holding existing positions while awaiting clearer technical confirmation. New entrants might prefer to wait for a confirmed breakout above resistance levels or a sustained improvement in monthly momentum indicators before increasing exposure.
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Summary of Technical Indicators
To recap, ICICI Bank’s technical indicators present a nuanced picture:
- Trend: Shift from sideways to mildly bearish
- MACD: Weekly bullish, monthly mildly bearish
- RSI: Neutral on both weekly and monthly
- Bollinger Bands: Sideways on weekly and monthly
- Moving Averages: Daily mildly bearish
- KST: Weekly mildly bullish, monthly mildly bearish
- Dow Theory: Mildly bearish on weekly and monthly
- OBV: Weekly mildly bearish, monthly no trend
This combination suggests that while short-term momentum retains some bullish elements, the longer-term outlook is cautious, with potential for volatility and range-bound trading in the near term.
Conclusion
ICICI Bank Ltd. remains a key player in the private banking sector with a solid track record of outperforming the Sensex over multiple timeframes. However, recent technical shifts indicate a transition to a more cautious stance, with mixed signals from key momentum indicators. Investors should weigh the mildly bearish monthly trends against the weekly bullish signals and strong historical returns when making portfolio decisions. Monitoring upcoming earnings, macroeconomic developments, and sector trends will be crucial to gauge whether the stock can regain upward momentum or face further consolidation.
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