ICICI BANK - TECHNICAL VIEW ON 07/11/2006

ICICIBANK - TECHNICAL VIEW ON 07/11/2006

Dear investor,
please see above ICICIBANK 3 years chart. top player in private banking AND top looser in private banking. see some more correction this counter. relative strength index (RSI)48.51 and stochastic 73.29 indicators both are showing downtrend.
if you looking latest lover low is 27/10/2008 low -283 & close 316. this crucial range for this counter. i think nifty making new low , so this counter sure shot break this low. its long term view, depends on market behavior. current situation is worst , extreme bearish . lets see.

oh! one more think share with you, found new recent GAP in this counter-
downside is 29/10/2008 high - 355.90
upside is 30/10/2008 low - 363.00
GAP IS - 7.10 POINT ,
Remember market fill the all gap, time frame its not predictable but gap full fill is 100% sure.

give you some trading tips-
for cash trading-
short on opening bell. cmp-433, sloploss- 457 ,Target - 415,375,345.

for option trading -
BUY PUT
OPTSTK ICICIBANK 27NOV2008 PA 350.00 premium 11.65 lot size 175 investment 2038
OPTSTK ICICIBANK 27NOV2008 PA 300.00 premium 6.00 lot size 175 investment 1050
OPTSTK ICICIBANK 27NOV2008 PA 280.00 premium 4.10 lot size 175 investment 717

In option trading you must use stoploss.
enjoy trading...
thank you