Technical Calls:bank Nifty,ICICI bank and Century Textile

By | March 25, 2012

Markets seduce greedy traders into buying positions that are too large for their accounts and then destroy them with a reaction they cannot afford to sit out. They shake fearful traders out of winning trades with brief countertrend spikes before embarking on runaway moves.Lazy traders are the favorite victims of the market, which keeps throwing new tricks at the unprepared. Whatever your psychological flaws and fears, whatever your inner demons, whatever your hidden weaknesses and obsessions, the market will seek them out, find them, and use them against you, like a skilled wrestler uses his opponent’s own weight to toss him to the ground.

Century Textile

Trading within a channel near resistance of 366. Volumes are good from past 3 days.

Breakout confirmation above 366.

Buy above 366 Tgt 374,378 and 384

Sell below 354 Tgt 350,344 and 338

 

Bank Nifty

 

 

 

Bank ifty breached the laxam reakha of 10135 made a quick low of 10125 and bounced back again.

Strong buying hands are supporting the index at lower levels. Break of 10125 on closing basis will spell trouble for Bulls so keep a SL of 10125 on bank Nifty for all longs.

Buy above 10350 Tgt 10423,10500,10553

Sell below 10274 Tgt 10200,10125 and 10030

Positional Traders Hold shorts if close below 10125

 

 

ICICI Bank

 

 

 

ICICI Bank is also showing symmetrical triangle formation which is a consolidation pattern. 895 on closing basis should be SL for longs.

Buy above 911 Tgt 923,932,939  and 949

Sell below 894 Tgt 884 and 875

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