Strong support exists at 200 DMA 881 which can be touched tommrow as maket will open gap down.If ICICI Bank holds 200 DMA and close above it we can make a case of good upside in short term
Trader having weekly perspective can see from the chart 50 WMA has acted as a brilliant support for ICICI bank so people taking position on weekly perpective should keep 866 as SL on longs held.
Buy around 880-885 tgt 902 909 916 and 928 and 945 sl 867
Immediate resistance is around 54.93 levels.
Buy above 54.93 Tgt 56 and 50 SMA of stock which is at 60 levels.
On the daily chart, the stock has broken out from an inverted Head
& Shoulders formation with the neckline placed at Rs791. A successful close above its 200-DMA and neckline is likely to ignite buying momentum.
Buying the stock between Rs800-810 with stop loss of Rs786 for a target of Rs850 and Rs860.
Buy HCL Tech between the Rs.370-374 levels with a stop loss at Rs.364. Upside targets are at Rs.394 which we expect the stock to touch in 4-8 trading sessions.