Technical Picks:ICICI Bank,Hero Honda and FT

By | May 28, 2013

ICICI BANK

ICICI Bank

Icici Bank is approaching the higher end of trading range at 1238. Stock has been consolidating 1160 to 1230 in past few days. Break above 1240 can see an upmove till 1280 odd levels.

Buy above 1240 Tgt 1248, 1258 and 1270 SL 1232

Sell below 1228 Tgt 1221,1211 and 1203  SL 1234

 

 

Hero Honda

HeroHero Honda is near a breakout level of 1772 and closed near an important resistance zone of 1750. Above 1772, stock will see a fast upmove till 1830 odd levels

Buy above 1772 Tgt 1794, 1817 and 1834 SL 1750

Sell below 1725 Tgt 1700,1685 and 1662  SL 1740

 

FT

FT

FT has formed an bullish engulfing pattern today and breakout comes above 861 odd levels. Stock after a big fall after flop show by SX is gaining traction among traders and trending moves can come once 861 is taken out.

Buy above 861 Tgt 870, 882 and 895 SL 848

Sell below 835 Tgt 825,815 and 804  SL  848

 

For the reference of readers the performance sheet for the Month of May Expiry has been updated, can be accessed from http://tradingsystemperformance.blogspot.in/.

  • All prices relate to the NSE Spot
  • Calls are based on the previous trading day’s price activity.
  • The call is valid for the next trading session only unless otherwise mentioned.
  • Stop-loss levels are given so that there is a level below/above, which the market will tell us that the call has gone wrong. Stop-loss is an essential risk control mechanism; it should always be there.
  • Book, at least, part profits when the prices reach their targets; if you continue to hold on to positions then use trailing stops to lock in your profits.

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