ICICI Bank: short-term trend – Bullish

ICICI Bank: short-term trend – Bullish
ICICI BANK Symbol: ICICIBANK Suggestion: Buy, Stop loss at Rs. 518 Open             550.00 High              550.90 Low               515.15 Last Price    520.75 Fig. 1: Price movement - ICICI Bank Fig. 1 shows the price movement bar chart for ICICI Bank. The green line is SMA(200), and the brown line is SMA(20). As seen, the price is well above the 200 and 20 day SMAs (Simple Moving Average). This clearly indicates that the stock is running in the bullish phase. The only problem over here is that the SMA(20) line is rising at a pace more than the SMA(200) line, and thus is expected to cross it in coming...

By iBlogger On 11 May 2009 Continue Reading ... One Comment

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