priya Priya is a Stock Market Analyst and professional blogger. She is the Founder and Author of www.analystcalls.in

ICICI Bank Technical Analysis November 14 2011

37 sec read

It’s been really tough time for banks not able to show specific trend since 3 months from August 2011. ICICI Bank has been trading in the range of Rs.70 (820-890). This could be an acid test for all major banks like SBI, AXIS, ICICI whether they can sustain October’s low or not. All these banks just 5% away from the recent low in October 2011.

ICICI bank recent low recored in October at 761.4. Currently trading at 821 with almost 7% loss in this week. Provided 800 weekly support not taken out, it may continue to play in the same range. Otherwise, it can crack down to 760 and below that will open the alarming doors which is inevitable.
[wp_ad_camp_5]

 
Daily and weekly Indicators  are negative with crossovers. Ichimoku analysis too shows stiff resistance at 840 levels.

760 << 800 << 830 >> 845 >> 880 

ICICI Bank Daily OHLC Chart 

ICICI bank

Ichimoku chart

ICICI Bank Ichimoku Chart

About the Author : Priya is the Technical Analyst and author of Analystcalls and often writes guest post for Marketcalls

priya Priya is a Stock Market Analyst and professional blogger. She is the Founder and Author of www.analystcalls.in

Marketcalls New Year Stock Picks for 2013

Here are the list of stocks selected based on the trading strategy rules. Nearly 14 stocks has been selected from the NSE Pack using stock delivery...
Rajandran R
28 sec read

SAIL – Low Risk Medium Return Stock

Sail - The Stock is in strong sell mode for the past 22 months and nearly lost more than 60% of the wealth since...
Rajandran R
24 sec read

Hindalco in Medium Risk Buy Mode on EOD charts

Hindalco is in buy mode on the EOD charts with EOD supports coming around Rs131.76. Target can be expected around Rs 160. Medium term...
Rajandran R
10 sec read

2 Replies to “ICICI Bank Technical Analysis November 14 2011”

  1. icici …we can see inverted head and shoulder reversal signal..and decreasing momentum diminished…so hope will move up from here ..can be played with 20 rs sl …

  2. Finally as mentioned in ICICI weekly support taken out and went low 782.
    760 Last major support.
    here are the levels mentioned:
    760 << 800 <> 845 >> 880

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More