ICICI Bank,DLF and Gitanjali gems technical Views

By | May 24, 2011 2:51 am

DLF Limited

DLF is trading a small range from past 3-4 Trading sessions forming lower highs and respecting its both upper and downward trendline.

Break of the Range will give momentum on upside or downside.

DLF is trading around its 5 EMA LOW and break/close of the same will give a impulsive down move.

RSI is in 50% indicating in netural zone.

Sell below 221.35 Tgt 220.5,217.6 and 214.8

Break of 220.5 one double its short.


Gitanjali Gems

Trading in a small range with low volumes from past many trading sessions. Stochastic turing up and yesterday tried to close above its upper trading range.


Buy above 268.3 Tgt 271.4 and 274.6



ICICI Bank has formed the bearish engulfing pattern on Monday and closed below its 5 EMA Low giving momentum on downside.

I have drawn the trend lines and it is forming a bearish wedge pattern Supports are 992 levels and below that it can see a impulside downmove

Sell below 1003 Tgt 992,981 and 960


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