>ICICI Bank Technical analysis

We are witnessing temporary injections all over the world in banking sector.
Indian Banking sector was also given some relief by reducing CRR ratio, repo rate
and the SLR whenever was needed.

Which in turn helped in nice swift rally in banking scripts.
ICICI bank saw handsome 300-500+ in a matter of approximately 2 months.
Hourly chart shows an impulse up ,Which is almost at its end.
We can witness good correction in this script from present levels.
Profit booking is advisable.
480 remains a good support.

Regards
Rish

RESEARCH REPORTS

>INSIDER TRADING 06-01-2009

506074 Arshiya International Ltd Paul William Bradley. 31/12/2008 S 255000 245000 0.42 531881 Arvind Chemicals ltd. Newage Vinimay Pvt Ltd & Others. 30/12/2008 - 31/12/2008 B 184499 0.93 2619766 13.23 531881 Arvind Chemicals ltd. Gaurav Vinimay Pvt Ltd & Others 29/12/2008 B 84930 0.43 2435267 12.30 530355 Asian Oilfield Services Ltd. Enso Oil Pvt Ltd 31/12/2008 S 224000 1.98 516000 4.57 508136 B & A Ltd. Hemendra prasad Barooah 30/12/2008 B 826 838522 532977 Bajaj Auto Limited Sanjvnayan Bajaj 30/12/2008 B 11453 412724 0.28 532977 Bajaj Auto Limited Smt. Sunaina Kejriwal 31/12/2008 B 3817 213937 0.15 532978 Bajaj Finserv Limited Sanjivnayan Bajaj 30/12/2008 B 11453 412724 0.28 500032 Bajaj Hindustan Ltd., Niravnayan Trust 30/12/2008 S 5000 -- 500032 Bajaj Hindustan Ltd., Niraj Bajaj 30/12/2008 S 168000 0.12 -- 500032 Bajaj Hindustan Ltd., Niravnayan Bajaj 30/12/2008 S 129000 0.09 -- 500032 Bajaj Hindustan Ltd., Shishir Bajaj 30/12/2008 B 41696440 45684000 32.31 500032 Bajaj Hindustan Ltd., Bachhraj & Company Pvt Ltd 30/12/2008 S 34696250 24.54 -- 500032 Bajaj Hindustan Ltd., Niraj Bajaj -HUF 30/12/2008 S 20000 0.01 -- 500032 Bajaj Hindustan Ltd., Minal Bajaj 30/12/2008 S 141500 0.10 -- 500032 Bajaj Hindustan Ltd., Rahul Bajaj 30/12/2008 - 31/12/2008 S 41582670 29.41 0 500032 Bajaj Hindustan Ltd., Rahul Bajaj 30/12/2008 B 41290380 29.20 41582670 29.41 500490 Bajaj Holdings & Investment Limited Sanjivnayan Bajaj 30/12/2008 B 11453 0.01 412724 0.41 500490 Bajaj Holdings & Investment Limited Smt. Sunaina Kejriwal 31/12/2008 B 3817 213937 0.21 500039 Banco Products (India) Ltd., Vimal K Patel 30/12/2008 - 31/12/2008 B 1208 4658404 6.56 532430 BF Utilities Ltd. Mr. Amit B. Kalyani. 31/12/2008 B 5000 28270 0.07 532454 Bharti Airtel Ltd. Indian Continent Investment Ltd -- B 2441000 0.13 119084723 6.27 532330 Biopac India Corporation Ltd Pankaj B Doshi 30/12/2008 B 2000 3190614 19.94 532330 Biopac India Corporation Ltd Pankaj B Doshi 31/12/2008 B 4000 3194614 19.96 530871 Chembond Chemicals Ltd. Visan Holdings & Financial Ser Pvt Ltd. 29/12/2008 B 100 123417 522261 Dolphin Offshore Enterprises (India) ltd. Dolphin Offshore Projects Ltd. 30/12/2008 - 31/12/2008 B 3150 0.03 1717637 17.96 532345 Gati Limited Krishna Lal Chugh 29/12/2008 - 30/12/2008 S 37320 31885 0.03 532767 Gayatri Projects Limited Mr. T V Sandeep Reddy 02/01/2009 B 4701 1385515 13.71 532767 Gayatri Projects Limited Mr. T.V. Sandeep Kumar Reddy. 31/12/2008 B 11874 1380564 13.66 532767 Gayatri Projects Limited Mr. T.V. Sandeep Kumar Reddy. 01/01/2009 B 250 1380814 13.66 500182 Hero Honda Motors Ltd. Life Insurance Corporation Of India. 11/04/2008 - 30/12/2008 S 4051872 2.02 9961059 4.98 522073 Hi-Tech Gears Ltd., Mr. Pranav Kapuria. 23/12/2008 - 31/12/2008 B 3137 393184 4.19 522073 Hi-Tech Gears Ltd., Mr. Anuj Kapuria. 23/12/2008 - 31/12/2008 B 3183 409557 4.36 509627 Hindustan Dorr-Oliver Ltd. Sch Of Sundaram BNP Paribus Mutual Fund 02/01/2009 B 350000 0.97 2125273 5.90 509650 Hindustan Housing Co. Ltd., Minakshi Bajaj. 30/12/2008 S 40 -- 509650 Hindustan Housing Co. Ltd., Shishir Bajaj. 30/12/2008 S 180 -- 509650 Hindustan Housing Co. Ltd., Shishir Bajaj (HUF) 30/12/2008 S 540 -- 532976 Jai Balaji Industries Limited Jai Salasar Balaji Industries Pvt Ltd. 30/12/2008 B 60 1886865 4.01 532976 Jai Balaji Industries Limited Jai Salasar Balaji Industries Pvt Ltd. 01/01/2009 B 17110 0.04 1903975 4.05 532741 Kamdhenu Ispat Limited Kamdhenu Overseas Ltd 31/12/2008 B 6200 0.03 2243570 11.80 513269 Man Industries (India) Ltd Nikhil Mansukhani 30/12/2008 - 31/12/2008 B 9187 787769 1.47 532819 MindTree Limited Subroto Bagchi. 22/12/2008 - 26/12/2008 S 2059 2153018 5.67 526642 Mirza International Limited Irshad Mirza 24/12/2008 - 26/12/2008 B 78796 6320054 6.82 500460 Mukand Ltd., Shishir Bajaj. 30/12/2008 S 32650 -- 500460 Mukand Ltd., Minakshi Bajaj. 30/12/2008 S 4680 -- 500460 Mukand Ltd., Apoorv Bajaj. 30/12/2008 S 4000 -- 500314 Oriental Hotels Ltd., Mr. D Varada Reddy 05/12/2008 - 31/12/2008 B 13659 0.08 360710 2.02 531120 Patel Engineering Ltd Ms. Sonal Patel 31/12/2008 - 01/01/2009 B 2050 156500 0.26 530695 Prime Property Development Corporation Ltd. Padamshi L Soni 31/12/2008 - 02/01/2009 B 10750 8967247 44.84 532693 Punj LLoyd Ltd HDFC MF Mthly.Income Plan-Long Term Plan 24/08/2008 - 17/11/2008 S 600000 0.19 -- 532693 Punj LLoyd Ltd HDFC Mid Cap Opportunities Fund 27/08/2008 - 25/09/2008 B 1100000 0.36 1100000 0.36 532693 Punj LLoyd Ltd HDFC Arbitrage Fund 16/09/2008 - 28/11/2008 B 455250 0.15 185250 0.06 532693 Punj LLoyd Ltd HDFC Arbitrage Fund 24/10/2008 - 03/11/2008 S 270000 0.08 0 0.00 532693 Punj LLoyd Ltd HDFC Core & Satellite Fund 18/09/2008 B 60000 0.02 360000 0.11 532693 Punj LLoyd Ltd HDFC Equity Fund 31/10/2008 - 18/12/2008 S 5100000 1.68 -- 532693 Punj LLoyd Ltd HDFC Growth Fund 23/09/2008 - 10/10/2008 B 375000 0.12 0 0.00 532693 Punj LLoyd Ltd HDFC Growth Fund 10/11/2008 S 250000 0.08 825000 0.27 532693 Punj LLoyd Ltd HDFC Premier Multi Cap Fund 18/09/2008 - 29/09/2008 B 350000 0.11 550000 0.18 532693 Punj LLoyd Ltd HDFC Prudence Fund 25/08/2008 - 18/12/2008 S 2450000 0.80 -- 532693 Punj LLoyd Ltd HDFC Top 200 Fund 10/12/2008 - 18/12/2008 S 1290081 0.42 1150000 0.37 532693 Punj LLoyd Ltd HDFC Taxsaver 27/08/2008 B 800000 0.26 1000000 0.32 532693 Punj LLoyd Ltd HDFC Long Term Equity Fund 10/11/2008 - 17/12/2008 S 400000 0.13 500000 0.16 532693 Punj LLoyd Ltd HDFC Infrastructure Fund 06/11/2008 - 17/12/2008 S 725000 0.23 1225000 0.40 531033 Regal Entertainment & Consultants Ltd. Shri Satish Kusumbiwal 29/12/2008 - 30/12/2008 B 3500 -- 531033 Regal Entertainment & Consultants Ltd. Shri Dinesh Gupta 30/12/2008 - 01/01/2009 B 2510 -- 500376 Satyam Computer Services Ltd SRSR Holdings Pvt Ltd -- S 21148503 34579497 526835 Silktex Ltd. Sandeep Kumar Churiwala 03/01/2009 B 25000 567500 7.46 526835 Silktex Ltd. Saket Kumar Churiwala 03/01/2009 B 25000 518350 6.82 500148 Uflex Limited Flex International Pvt Ltd 29/12/2008 - 30/12/2008 B 1002 27727005 532953 V-Guard Industries Ltd. Kochouseph Chittilappilly 29/12/2008 - 30/12/2008 B 10616 6546636 21.93 532824 Vijayeswari Textiles Ltd. M/s Seshraj Enterprises Pvt Ltd 31/12/2008 B 49499 7226961 39.78 532298 Zenith Infotech Ltd. Raj Kumar Saraf- HUF -- B 23818 0.19 1268898 10.37

B - Buy

S - Sale

RESEARCH REPORTS

>INSIDER TRADING 06-01-2009

506074 Arshiya International Ltd Paul William Bradley. 31/12/2008 S 255000 245000 0.42 531881 Arvind Chemicals ltd. Newage Vinimay Pvt Ltd & Others. 30/12/2008 - 31/12/2008 B 184499 0.93 2619766 13.23 531881 Arvind Chemicals ltd. Gaurav Vinimay Pvt Ltd & Others 29/12/2008 B 84930 0.43 2435267 12.30 530355 Asian Oilfield Services Ltd. Enso Oil Pvt Ltd 31/12/2008 S 224000 1.98 516000 4.57 508136 B & A Ltd. Hemendra prasad Barooah 30/12/2008 B 826 838522 532977 Bajaj Auto Limited Sanjvnayan Bajaj 30/12/2008 B 11453 412724 0.28 532977 Bajaj Auto Limited Smt. Sunaina Kejriwal 31/12/2008 B 3817 213937 0.15 532978 Bajaj Finserv Limited Sanjivnayan Bajaj 30/12/2008 B 11453 412724 0.28 500032 Bajaj Hindustan Ltd., Niravnayan Trust 30/12/2008 S 5000 -- 500032 Bajaj Hindustan Ltd., Niraj Bajaj 30/12/2008 S 168000 0.12 -- 500032 Bajaj Hindustan Ltd., Niravnayan Bajaj 30/12/2008 S 129000 0.09 -- 500032 Bajaj Hindustan Ltd., Shishir Bajaj 30/12/2008 B 41696440 45684000 32.31 500032 Bajaj Hindustan Ltd., Bachhraj & Company Pvt Ltd 30/12/2008 S 34696250 24.54 -- 500032 Bajaj Hindustan Ltd., Niraj Bajaj -HUF 30/12/2008 S 20000 0.01 -- 500032 Bajaj Hindustan Ltd., Minal Bajaj 30/12/2008 S 141500 0.10 -- 500032 Bajaj Hindustan Ltd., Rahul Bajaj 30/12/2008 - 31/12/2008 S 41582670 29.41 0 500032 Bajaj Hindustan Ltd., Rahul Bajaj 30/12/2008 B 41290380 29.20 41582670 29.41 500490 Bajaj Holdings & Investment Limited Sanjivnayan Bajaj 30/12/2008 B 11453 0.01 412724 0.41 500490 Bajaj Holdings & Investment Limited Smt. Sunaina Kejriwal 31/12/2008 B 3817 213937 0.21 500039 Banco Products (India) Ltd., Vimal K Patel 30/12/2008 - 31/12/2008 B 1208 4658404 6.56 532430 BF Utilities Ltd. Mr. Amit B. Kalyani. 31/12/2008 B 5000 28270 0.07 532454 Bharti Airtel Ltd. Indian Continent Investment Ltd -- B 2441000 0.13 119084723 6.27 532330 Biopac India Corporation Ltd Pankaj B Doshi 30/12/2008 B 2000 3190614 19.94 532330 Biopac India Corporation Ltd Pankaj B Doshi 31/12/2008 B 4000 3194614 19.96 530871 Chembond Chemicals Ltd. Visan Holdings & Financial Ser Pvt Ltd. 29/12/2008 B 100 123417 522261 Dolphin Offshore Enterprises (India) ltd. Dolphin Offshore Projects Ltd. 30/12/2008 - 31/12/2008 B 3150 0.03 1717637 17.96 532345 Gati Limited Krishna Lal Chugh 29/12/2008 - 30/12/2008 S 37320 31885 0.03 532767 Gayatri Projects Limited Mr. T V Sandeep Reddy 02/01/2009 B 4701 1385515 13.71 532767 Gayatri Projects Limited Mr. T.V. Sandeep Kumar Reddy. 31/12/2008 B 11874 1380564 13.66 532767 Gayatri Projects Limited Mr. T.V. Sandeep Kumar Reddy. 01/01/2009 B 250 1380814 13.66 500182 Hero Honda Motors Ltd. Life Insurance Corporation Of India. 11/04/2008 - 30/12/2008 S 4051872 2.02 9961059 4.98 522073 Hi-Tech Gears Ltd., Mr. Pranav Kapuria. 23/12/2008 - 31/12/2008 B 3137 393184 4.19 522073 Hi-Tech Gears Ltd., Mr. Anuj Kapuria. 23/12/2008 - 31/12/2008 B 3183 409557 4.36 509627 Hindustan Dorr-Oliver Ltd. Sch Of Sundaram BNP Paribus Mutual Fund 02/01/2009 B 350000 0.97 2125273 5.90 509650 Hindustan Housing Co. Ltd., Minakshi Bajaj. 30/12/2008 S 40 -- 509650 Hindustan Housing Co. Ltd., Shishir Bajaj. 30/12/2008 S 180 -- 509650 Hindustan Housing Co. Ltd., Shishir Bajaj (HUF) 30/12/2008 S 540 -- 532976 Jai Balaji Industries Limited Jai Salasar Balaji Industries Pvt Ltd. 30/12/2008 B 60 1886865 4.01 532976 Jai Balaji Industries Limited Jai Salasar Balaji Industries Pvt Ltd. 01/01/2009 B 17110 0.04 1903975 4.05 532741 Kamdhenu Ispat Limited Kamdhenu Overseas Ltd 31/12/2008 B 6200 0.03 2243570 11.80 513269 Man Industries (India) Ltd Nikhil Mansukhani 30/12/2008 - 31/12/2008 B 9187 787769 1.47 532819 MindTree Limited Subroto Bagchi. 22/12/2008 - 26/12/2008 S 2059 2153018 5.67 526642 Mirza International Limited Irshad Mirza 24/12/2008 - 26/12/2008 B 78796 6320054 6.82 500460 Mukand Ltd., Shishir Bajaj. 30/12/2008 S 32650 -- 500460 Mukand Ltd., Minakshi Bajaj. 30/12/2008 S 4680 -- 500460 Mukand Ltd., Apoorv Bajaj. 30/12/2008 S 4000 -- 500314 Oriental Hotels Ltd., Mr. D Varada Reddy 05/12/2008 - 31/12/2008 B 13659 0.08 360710 2.02 531120 Patel Engineering Ltd Ms. Sonal Patel 31/12/2008 - 01/01/2009 B 2050 156500 0.26 530695 Prime Property Development Corporation Ltd. Padamshi L Soni 31/12/2008 - 02/01/2009 B 10750 8967247 44.84 532693 Punj LLoyd Ltd HDFC MF Mthly.Income Plan-Long Term Plan 24/08/2008 - 17/11/2008 S 600000 0.19 -- 532693 Punj LLoyd Ltd HDFC Mid Cap Opportunities Fund 27/08/2008 - 25/09/2008 B 1100000 0.36 1100000 0.36 532693 Punj LLoyd Ltd HDFC Arbitrage Fund 16/09/2008 - 28/11/2008 B 455250 0.15 185250 0.06 532693 Punj LLoyd Ltd HDFC Arbitrage Fund 24/10/2008 - 03/11/2008 S 270000 0.08 0 0.00 532693 Punj LLoyd Ltd HDFC Core & Satellite Fund 18/09/2008 B 60000 0.02 360000 0.11 532693 Punj LLoyd Ltd HDFC Equity Fund 31/10/2008 - 18/12/2008 S 5100000 1.68 -- 532693 Punj LLoyd Ltd HDFC Growth Fund 23/09/2008 - 10/10/2008 B 375000 0.12 0 0.00 532693 Punj LLoyd Ltd HDFC Growth Fund 10/11/2008 S 250000 0.08 825000 0.27 532693 Punj LLoyd Ltd HDFC Premier Multi Cap Fund 18/09/2008 - 29/09/2008 B 350000 0.11 550000 0.18 532693 Punj LLoyd Ltd HDFC Prudence Fund 25/08/2008 - 18/12/2008 S 2450000 0.80 -- 532693 Punj LLoyd Ltd HDFC Top 200 Fund 10/12/2008 - 18/12/2008 S 1290081 0.42 1150000 0.37 532693 Punj LLoyd Ltd HDFC Taxsaver 27/08/2008 B 800000 0.26 1000000 0.32 532693 Punj LLoyd Ltd HDFC Long Term Equity Fund 10/11/2008 - 17/12/2008 S 400000 0.13 500000 0.16 532693 Punj LLoyd Ltd HDFC Infrastructure Fund 06/11/2008 - 17/12/2008 S 725000 0.23 1225000 0.40 531033 Regal Entertainment & Consultants Ltd. Shri Satish Kusumbiwal 29/12/2008 - 30/12/2008 B 3500 -- 531033 Regal Entertainment & Consultants Ltd. Shri Dinesh Gupta 30/12/2008 - 01/01/2009 B 2510 -- 500376 Satyam Computer Services Ltd SRSR Holdings Pvt Ltd -- S 21148503 34579497 526835 Silktex Ltd. Sandeep Kumar Churiwala 03/01/2009 B 25000 567500 7.46 526835 Silktex Ltd. Saket Kumar Churiwala 03/01/2009 B 25000 518350 6.82 500148 Uflex Limited Flex International Pvt Ltd 29/12/2008 - 30/12/2008 B 1002 27727005 532953 V-Guard Industries Ltd. Kochouseph Chittilappilly 29/12/2008 - 30/12/2008 B 10616 6546636 21.93 532824 Vijayeswari Textiles Ltd. M/s Seshraj Enterprises Pvt Ltd 31/12/2008 B 49499 7226961 39.78 532298 Zenith Infotech Ltd. Raj Kumar Saraf- HUF -- B 23818 0.19 1268898 10.37

B - Buy

S - Sale

RESEARCH REPORTS

>INSIDER TRADING 05-01-2009

532480 Allahabad Bank Life Insurance Coporation of India 12/11/2008 - 24/12/2008 B 9397700 2.10 48905009 10.94 523377 Apar Industries Ltd Shri. C.N. Desai. 22/12/2008 - 29/12/2008 B 1336 6319768 19.54 531881 Arvind Chemicals ltd. Newage Vinimay Pvt Ltd & Others. 24/12/2008 B 52104 0.26 2300437 11.61 531881 Arvind Chemicals ltd. Gaurav Vinimay Pvt Ltd & Others. 26/12/2008 B 49900 0.26 2350337 11.87 532123 BSEL Infrastructure Realty Ltd. Western Bizcon Services Ltd. 29/12/2008 B 13700 0.01 1079700 1.30 532548 Century Plyboards (India) Ltd. Brij Bhushan Agarwal. 19/12/2008 S 199 8307659 500096 Dabur India Ltd. Mr. Ambati Sudhakar 26/12/2008 S 5000 223452 0.02 532707 Dynemic Products Ltd. Mr. Bhagwandas K. Patel. 10/10/2008 - 17/12/2008 B 26000 952300 8.40 522074 Elgi Equipments Ltd., Dr. Jairam Varadaraj. 31/12/2008 B 2778080 5583292 7.14 526227 Filatex India Ltd. Nouvelle Securities Pvt Ltd. 30/12/2008 B 10450 0.06 257654 1.50 526227 Filatex India Ltd. Nouvelle Securities Pvt Ltd. 31/12/2008 B 6977 0.04 264631 1.54 526227 Filatex India Ltd. Nouvelle Securities Pvt Ltd 29/12/2008 B 11345 0.07 247204 1.44 532345 Gati Limited Mahendra Kumar Agarwal. 26/12/2008 - 31/12/2008 B 35958 1728423 2.04 532296 Glenmark Pharmaceuticals ltd Abhinna Sundar Mohanty 22/12/2008 - 24/12/2008 S 8000 58100 0.02 509567 Goa Carbon Ltd., Shrinivas V Dempo 26/12/2008 - 29/12/2008 B 17426 100210 1.09 532015 Gravity (India) Ltd. Smt. Dakshaben R Thakkar 30/12/2008 B 5821 0.06 54426 0.60 531524 I.C.S.A. (India) Ltd. G Bala Reddy 30/12/2008 B 100000 7588625 16.21 511131 Kamanwala Housing Construction Ltd Sudha Gupta 23/12/2008 B 40000 255458 1.81 511131 Kamanwala Housing Construction Ltd Sudha Gupta 29/12/2008 S 14000 241458 1.71 532741 Kamdhenu Ispat Limited Kamdhenu Overseas Ltd 26/12/2008 B 4391 0.02 2237370 11.77 532901 Koutons Retail India Limited Davinder Pal Singh Kohli. 30/12/2008 B 25000 4459639 14.60 532901 Koutons Retail India Limited Bhupinder Singh Sawhney. 30/12/2008 B 25000 4459639 14.60 516007 Mangalam Timber Products Ltd., Smt. Vidula Jalan. 29/12/2008 B 704 103554 0.56 530305 Piccadily Agro Industries ltd. Shri Siddhartha Vashishta 19/12/2008 - 26/12/2008 B 39414 0.17 2008257 8.52 507498 Piccadily Sugar & Allied Ltd. Shri Siddhartha Vashishta 19/12/2008 - 26/12/2008 B 5299 0.02 4732554 16.04 531233 Rasi Electrodes Ltd. B Popatlal Kothari. 31/12/2008 B 7800 452459 9.51 531233 Rasi Electrodes Ltd. B Popatlal Kothari 29/12/2008 - 30/12/2008 B 5920 444659 9.34 531646 RFL International Ltd. Parimal D Shah 10/12/2008 S 71500 -- 531324 Roselabs Finance Ltd. Singhal Overseas Ltd 30/12/2008 S 65800 1247034 10.97 500368 Ruchi Soya Industries ltd. Dinesh Shahra (Trustee-Shiva Foundation) 29/12/2008 B 50000 13754937 7.29 519031 Shah Foods Ltd Sushil Panalal Shah 23/12/2008 S 1400 26550 4.44 511754 Shalibhadra Finance Ltd. Mrs. Sheetal M Doshi 31/12/2008 B 161 1033323 20.65 523756 SREI Infrastructure Finance limited Sanlam Universal Funds PLS 30/12/2008 B 1450300 1.25 9677279 8.33 532348 Subex Ltd Subash Menon 24/12/2008 - 26/12/2008 B 25000 2457215 7.05 513414 Sujana Metal Products Ltd. Yalamanchili Finance & Trading Pvt Ltd. 01/01/2009 B 6000000 15281897 22.07 524542 Sukhjit Starch & Chemicals Ltd. I K Sardana 26/12/2008 - 29/12/2008 B 1670 358950 4.86 524542 Sukhjit Starch & Chemicals Ltd. K K Sardana 26/12/2008 - 30/12/2008 B 2008 372073 5.04 532298 Zenith Infotech Ltd. Raj Kumar Saraf -- B 4000 1251850 10.23

B - Buy

S - Sale

RESEARCH REPORTS