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ICICI BANK Stock Tips - Stock on verge of bearish breakout below 1372, Coming down from resistance. (Updated On 11th July 2014, Friday).





  • ICICI BANK coming down from golden ratio fibonacci retracement resistance and now facing support around 1372, Close watch once stock closes below 1372 and stays below then can see further weakness, Intraday we can see some action once stock starts trading below 1372, close watch.
  • Daily chart also indicates ICICI BANK is trading below 23.6% fibonacci retracement and indicating weakness and will find next 38.2% fibonacci retracement support around 1340.
  • Chart also indicates stock is trading below 50 days moving average as long as trades below stock will favor bears.



MCX GOLD 1 KG Technical Analysis - Gold trading above golden ratio , will favor bulls. (Updated On 14th July 2014, Monday).


MCX GOLD 1 KG




  • As per our previous post published on 10th July 2014, MCX GOLD made a strong up move after breaking its resistance. (Click here to see our past report on MCX GOLD).
  • Daily chart indcates GOLD is now trading above 60% fibonacci retracement (golden ratio), as long as trades above gold will favor bulls and can test its nearest top around 29000.
  • Daily chart also indicates if gold moves up then will find strong trend line and 200 days moving up average around 29000. Only closing above its resistance will give further clear bull rally.
  • Weekly chart indicates stock trading above 23.6% fibonacci retracement and will we facing strong resistance around 29300. (38.2% fibonacci retracement & 50 weeks moving average).




MCX NATURAL GAS Technical Chart - NG finding strong trend line support at current levels, Hope line for bulls. (Updated On 14th July 2014, Monday).


MCX NATURAL GAS




  • MCX NATURAL GAS facing strong trend line support at current levels  (253 & 245), Once NG closes below its support line then stock will favor bears as long as trades below.
  • Daily chart also indicates NG is trading below 200 days moving average, another sign for weakness.
  • Weekly chart indicates , NG  is now trading below 50 weeks moving average and its strong trend line support zone, if closes below then short term trend will favor bears and will find next strong support around 210, 192 & 169. 



MCX LEAD 1 KG Commodity Tips - LEAD on the verge of Bullish Breakout above 134. (Updated On 24th July 2014, Thursday).


MCX LEAD 1 KG




  • MCX LEAD 1 KG is moving up from strong fibonacci retracement support zone, and now facing strong trend line resistance around 134, close watch once lead closes above 134 in daily chart and stays above then lead looking bullish , on upper side lead will find next resistance around 135.50 and 137. Intraday close watch once Lead starts trading above 134 can see some intraday action.
  • Daily chart also indicates lead is now trading above 200 days moving average, as long as holds above lead will favor bulls.
  • Weekly chart indicates lead is moving up from strong trend line support zone and 100 weeks moving average, as longs as hold above in weekly chart lead will favor short term traders.





Rural Electrification Corporation (REC LTD) Technical Analysis - Stock on the verge of bullish breakout above 383.50, facing strong trend line resistance in daily chart. (Updated On 11th July 2014, Friday).


Rural Electrification Corporation (REC LTD)





  • REC LTD is facing strong trend line resistance around 383.50 in daily chart, which indicates if closes above and stays above 383.50 then REC is looking good for next 1-2 days trading.
  • Daily chart also indicates stock is trading above 20 days moving average as shown above as long as stays above stock will favor rec ltd bulls.
  • (Short term trend) - Weekly chart indicates stock is on short term bull run and now trading above 161.8% fibonacci retracement resistance , so far stock looking bullish and no sign of reversal in weekly chart. On upper side will find trend line resistance around 410.





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