One technical indicator one should always ignore: overbought and oversold. It generally has very little relevance.
The best strategy – one should always have an open and neutral mindset all the time to take advantage of market opportunities
SBI broke 2238 made a rally till 2407 and pulled back.Now Resistance will become support so the falling trendline at 2320 will act as support.
Buy above 2347 Tgt 2364,2374 and 2398
Sell below 2315 Tgt 2297,2279 and 2266
Ranbaxy is again trading at bottom of channel and bounce can be expected if 500 is not broken.
Buy above 507 Tgt 510,515 and 520
Sell below 499 Tgt 495,490
ICICI Bank is near an important support of rising trendline at 1110,Holding the same bounce back can be expected till 1165 in short term
Buy above 1127 Tgt 1136,1148 and 1156
Sell below 1110 Tgt 1104,1092 and 1080