ICICI BANK
- As per previous report published on ICICI BANK, stock failed to close above its trend line resistance of 1513, and stock fell down and made a low of 1412. (Click here to see previous report published on ICICI BANK).
- Now daily chart indicates stock is moving up from 38.2% fibonacci retracement support zone, this will favor bulls to take stock further up , as shown in graph no1 .
- As per chart no2 stock is moving up from 100 days moving average , this indicates as long as stock holds above it will be favored by by bulls, but if ICICI BANK closes below 100 DMA and stays below then it will sign of weakness, close watch.
- As per graph no 3 if ICICI BANK closes above 1513 its trend line and 61.8% % fibonacci retracement (golden ratio) resistance and if stays above then further strength is expecting and stock will find next strong resistance around 1590.
- Intraday close watch once stock starts trading above 1513 if stays above then intraday bulls action in expecting.
- Suggested Reading - GRASIM INDS moving up froms strong support, stock will be favored by bulls.
- Click here to see all the free trading reports (tips) published by us on ICICI BANK.
- Stock tips for tomorrow.
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