Technical Trades:ICICI Bank and JBF industries

By | October 18, 2010

ICICI BANK

ICICI bank is trading in a broad trading range as shown on charts if one draws medium term trend lines as shown in charts,

1090 is good entery point for long trades as seen in the low of today and stock bounced sharply.

RSI is showing positive divergence adding fuel to our bullish take on this stock.

Today candlestick formation is a reversal trading pattern we need to get confirmation from price volume action on tomorrows trading action .

Volumes were on higher side after long periods of time

Buy above 1111 Tgt 1128,1141 and 1158 Sl 1090

JBF Industries

JBF Industries the stock we identifed near 152 levels You can search the site when the call was given to take long around 152 levels and again around 162 levels where it shown some major breakouts

After touching its all time Highs around 206 Stock retraced back and took support at 5 EMA which a bullish indication.

BUy around 183 levels for a tgt of 188,193,197 and 205

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