ICICI BANK looking weak with a stop loss of 335.

ICICI BANK

• Stock has made a bearish breakout as it has closed below its major support zone @ 335, this indicates ICICI BANK looks weak with stop loss of 335 (as long as it holds below).
• Sudden increase in volumes in ICICI bank indicates that bears are currently active and further price fall can be seen in coming days.
• On down side stock will find support around 320 as per line analysis. Close Watch.
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BANK NIFTY facing golden ratio support at current levels @ 18740.

BANK NIFTY FUTURES CHART

Charts updated for - 09th February 2015.

• Index is finding 50 DMA support at current levels.
• Bank Nifty also facing golden ratio support @ 18740, chart indicates bulls have some hopes for bounce back. But once Index closes and holds below its golden ratio then further weakness can be seen in coming days. Close Watch.
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USD INR coming down from 100 DMA resistance zone @ 62.35.

USD INR

Charts updated for - 12th February 2015.

• Currency coming down from 100 days moving average and from around 38.2% fibonacci retracement resistance zone around 62.44, as long as it holds below bears will be favored.
• Once currency closes and holds above 62.44 then further price rise can be seen.
• On down side USD-INR will find strong support around 61.3750 once forex closes and holds below 61.3750 then further price fall can be seen in coming days. Close Watch.
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Reliance power is on the verge of bearish breakout , will find strong support around 58.40.

RELIANCE POWER

• Stock coming down from 100 days moving average, technical indicates bears will be favored as long as holds below.
• On down side stock is finding strong trend line support around 58.40, this indicates once stock closes and holds below 58.40 then further price fall can be seen in coming days. Close Watch.
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• Share market tips.

RELIANCE COMMUNICATIONS made a bearish breakout, further weakness expecting in coming days.

RELIANCE COMMUNICATIONS

• Stock is coming down from 50 DMA, chart indicates as long as holds below bears will be favored.
• As per current charts stock has made a bearish breakout as it has closed below its previous bottom @ 75, as long as RIL COMM holds below 75 bears will be favored and its previous support is now acting as a major resistance. Close Watch.
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