ICICI Bank slides 8% in September to ₹1,310.60

ICICI Bank Limited

closed at ₹1,310.60 on October 1, 2026, down 0.84%. That is about 8.4% below its September 3 close of ₹1,430, and the stock sits below its 50, 100 and 200-day averages. What the chart shows: On September 25 the averages were ₹1,390.10, ₹1,379.20 and ₹1,366.80, and the stock closed at ₹1,326.80. Volume that day was 33.5 million shares, against 6.5 million on September 22 and 12.7 million on September 8. So the slide picked up speed on heavy volume. I found no bank-specific announcement behind it, and HDFC Bank rose 1.76% on October 1, so this is not a sector-wide fall. My view: A break below the 200-day average on heavy volume is a warning, not proof. The 52-week range is ₹1,187.60 to ₹1,480, so the stock is still 10.4% above its low. My first test is whether it can win back the 200-day average. Until then, I expect rallies to meet supply. If it recovers ₹1,390 quickly, the September move looks like a shakeout. Levels Instrument: ICICI Bank, daily chart Support: ₹1,312, the September 25 low, closed below on October 1. Next support is ₹1,187.60. Resistance: ₹1,366.80, then ₹1,390.10 Invalidation of the cautious view: a close above ₹1,390 Timeframe: two to three weeks. The Q2 results date is not confirmed. Call: Cautious. Wait for a close above ₹1,366.80 before looking at it again. Disclosure: we do not hold a position in ICICI Bank Limited. It is Not investment advice.