NIFTY TRENDS

Monday, October 6, 2008

ICICI Bank 6th OCT




This is a daily chart of ICICI Bank. The stock has been very volatile in the recent weeks with heavy volumes being observed. As seen from chart, the stock is currently in a bearish downward channel with supports at 515( which has been broken) and 450. As the stock is coming down with volumes, better to avoid entry into this counter. Only if the stock breaks 515 and stays above it for a couple of days can one think of entering with target of 600. The lower support is at 450.

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