Wednesday, March 04, 2009

>ICICI bank Technical analysis

ICICI Bank present chart structure suggest a rise towards 300 levels
before a big fall.

People long in ICICI Bank should keep stop loss to prevent themselves from losses
Chart structure suggests a possible 5 down if 280 is not held.
This view goes for a toss if ICIC trades above 330 and gives a close above that.
Shorts can have a big gain in it if shorted accordingly.

So track this script closely




Anonymous said...

Though today ICICI Bank made a new low, the fall from breach of HnS Neck Line does'n seems to be enough. i expect very limited upside and more pain from current levels.

Anonymous said...

Hi Rish

Is it possible for you to give the reasons for the different levels mentioned? Why will it go to 300 and why will it drop thereafter? Where can it go if 280 is not held?

M Suren babu said...

Very timely comment

Rish said...

Hi Subhankar

The different levels are outcome of wave analysis 280-90 being a good support a rise reaction is not ruled out that why a rise towards 300 which in fact came today.

Unknown said...

Great man again you proved yourself

Anonymous said...

excellent call yet again.. you rock..
ICICI is reversed from 252 levels back to 280+. Whats the next level on it now?

Anonymous said...

Sometimes,too long is too long.- Very Good Morning- Have a nice day-

Rish said...

ICICI bank witnessed nice dump saw 250 levels expect some rises before more dump

Anonymous said...

I see first resistance at 285 and if breach then 290 then it fall again or remain side vise till nifty fall

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