ICICI BANK
- As per previous report published on ICICI BANK, stock gave a sharp intraday move after breaking its resistance @ 1513, and intraday made a high of 1535. (Click here to see previous report published on ICICI BANK).
- Now daily chart indicates that stock has closes above its major resistance @ 1513, this indicates as long as stock holds above it will be favored by bulls and will find next strong resistance around 1590 its previous top as shown in graph no1 .
- Daily chart also indicates that stock is moving up from 100 days moving average, this indicates stock will favor bulls as long as holds above, but if ICICI BANK closes below 100 DMA then stock will give first sign of weakness.
- Suggested Reading - BANK OF BARODA will be facing strong golden ratio resistance around 920, will favor bulls if closes above.
- As per graph no3, stock moved up from 38.2% fibonacci retracement and then breaks its resistance and now stock major trend indicator "MACD" is moving in +ve zone and above zero level this will favor bulls and ICICI BANK other indicator RSI is trading below 70 levels this indicates stock is not in overbought zone and upside move is possible, as shown in graph no3. Close Watch.
- Click here to see all the free trading reports (tips) published by us on ICICI BANK.
- Stock tips for tomorrow.
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