ICICIBANK has been trading within a narrow range since late January, suggesting a period of consolidation.  I anticipate a downside resolution to this consolidation phase, primarily due to the stock’s proximity to a significant time cycle date of February 14th.  From a price perspective, the 1232 level represents a key support.  A break below this support could pave the way for further declines towards 1201 and subsequently 1161.  A sustained move below the low established on February 14th would likely accelerate the downward trend.

Wipro’s stock faces a critical juncture with key turn dates occurring today and tomorrow.  A sustained move below the lowest low reached during these two days could initiate a significant pullback, targeting the 297 to 291 support zone.  Looking at the bigger picture, as long as Wipro remains capped below its January 23rd high of 324.60, the likelihood of revisiting its January low around 281 remains high, potentially unfolding sometime in March.

SBI faces a significant potential turning point tomorrow and the day after, January 31st and February 1st.  A trend reversal is highly likely around these dates.  Technically, the 780-800 range presents formidable resistance, suggesting a probable move lower while remaining below this zone.  Should this anticipated downturn materialize, initial targets are 724 and 681 (cash) in the short term.  Looking at a slightly longer horizon, SBI appears to be a compelling short opportunity on any 30-40 rupee rally from the current market price, targeting 576 within the next 3-4 months. For those with a higher tolerance for market fluctuations, this represents a high-conviction trade for the first half of 2025.

Infosys (INFY) has a bearish structure. Significant resistance is located between ₹1900 and ₹1930. We prefer to initiate fresh short positions here for potential target objectives of ₹1812 and ₹1760 on a cash basis. The ₹1812 level is specifically important from a timing perspective, as it is the intraday low from January 27th, which was a critical cycle date.  Sustained trade below ₹1812 is likely to trigger a sharp decline towards the ₹1600 zone. The next major cycle date is due on March 13th.”

“Indian Bank (below ₹487) may see a decline towards ₹462-₹441 in the coming days. Results on January 29th will be a key factor.”