Icici on its EOD charts has made doji candle, suggesting an undecisiveness of further trend. A closer look at it indicates that at todays high, of 853, it may have found resistance at a 6 month old trendline that was initially a support.
Looking at the volumes, it seems unlikely that Icici Bank will find it easy to breach this trendline. Also, considering that the tgt for the breakdown initiated on 27/01/2010 is 675 approx., it seems like icici will not be able to breach todays high in the coming trading session.
Bank Nifty on its EOD charts has formed a doji, again suggesting undecisiveness of trends.
All the pieces put together, one can consider selling Icici bank at around 840 levels for a tgt of 685-690, with a stop at 876, trailing aptly to lock in profits at regular dips.
Trade Safe !!
Disclaimer: The said technical analysis is a perception based on various charting methods. Trades on my opinion are to be done solely at your own discretion.
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