ICICI Bank Limited has announced a change in its board composition with the retirement of Ms. Neelam Dhawan as Independent Director, effective January 11, 2026. The retirement marks the completion of her second term of office as an Independent Director of the bank.

Board Transition Details

The directorate change was formally communicated to regulatory authorities and stock exchanges through an official notification dated January 12, 2026. The communication provides specific details about the transition:

Regulatory Compliance

The bank has fulfilled its disclosure obligations under Regulation 30 by notifying the relevant stock exchanges about this directorate change. The notification was signed by Prachiti Lalingkar, Company Secretary of ICICI Bank Limited, ensuring proper documentation of the board transition.

Exchange Notifications

ICICI Bank has informed multiple stock exchanges about this directorate change, reflecting its global presence and listing status. The notification was sent to:

• BSE Limited (Bombay Stock Exchange)
• National Stock Exchange of India Limited (NSE)
• New York Stock Exchange (NYSE)
• Singapore Stock Exchange
• Japan Securities Dealers Association
• SIX Swiss Exchange Ltd.

This comprehensive notification approach ensures transparency across all markets where ICICI Bank securities are traded, maintaining compliance with international disclosure standards.

The Indian equity markets faced considerable pressure during the week ended January 9, with major benchmarks posting sharp declines amid rising concerns over potential US tariff measures and sustained foreign institutional investor outflows. Both the Sensex and Nifty 50 dropped 2.50% for the week, with the Sensex falling 2,186.00 points.

Market Technical Analysis

Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, observed that the Nifty 50's early-January optimism quickly shifted to caution as the index experienced five consecutive sessions of decline. The selling pressure was amplified by profit-taking in major stocks alongside global uncertainties.

The Nifty 50 concluded the week within the 25,700.00–25,900.00 range after breaking below crucial technical levels. Patel noted that the index's inability to sustain higher levels and subsequent sharp reversal highlighted exhaustion at elevated positions.

Short-Term Trading Recommendations

Despite the current weakness, Patel identifies three stocks showing promising technical setups for the next one to two weeks, each supported by specific chart patterns and momentum indicators.

ICICI Bank: Breakout Above Key Resistance

ICICI Bank has demonstrated a decisive breakout above monthly and weekly resistance pivots, supported by strong volume surge that validates the move's strength. The stock has also crossed above a long-standing falling trendline, confirming a shift from consolidation to upward expansion.

The technical indicators support the bullish outlook, with MACD generating a bullish crossover and RSI witnessing a trendline breakout. This alignment of price, volume, and momentum signals enhances the probability of trend continuation.

Endurance Technologies: Medium-Term Reversal Signs

Endurance Technologies is displaying encouraging signs of medium-term trend reversal after establishing a strong base near its 200-day exponential moving average. The stock has closed above weekly R1 pivot and weekly VWAP, indicating improved price strength and institutional acceptance.

Momentum indicators show MACD bullish divergence suggesting weakening selling pressure, while RSI sustaining above 50.00 confirms momentum shift favoring buyers.

JSW Energy: Inverse Head and Shoulders Breakout

JSW Energy has confirmed a bullish breakout from an inverse head and shoulders pattern, supported by strong volume surge that validates the formation's reliability. The current mild pullback is accompanied by low volumes, suggesting weak selling pressure and healthy retest behavior.

The weekly pivot support aligns closely with the pattern's neckline, strengthening the support zone and enhancing the probability of fresh upward movement.

Market Outlook

While momentum indicators remain weak, the Nifty 50 is approaching short-term oversold conditions, suggesting potential for technical rebound. However, any recovery faces strong resistance in the 25,800.00–26,000.00 range. Patel emphasizes the need for a cautious and selective strategy, requiring confirmation before initiating new directional positions in the current volatile environment.