Technical Analysis:Bank Nifty,Ranbaxy Labs and ICICI bank

In the trading world, you will either make money or lose money on any given trade. All that matters in the end is making more money when you’re right than you lose when you’re wrong.  Knowing this, traders have learned to accept failure as part of the game, but they also use the information they acquire from their mistakes as a learning tool.  Frequently, what they learn from losing money is more valuable than what they learn when they make money

Bank Nifty

Bank Nifty closed below 9852 which is bearish for short term and also closed below the channel top signalling short term top may be in place.

Correction till 9580-9620 will be healthy for Bank nifty before Credit policy.

Sell below 9813 Tgt 9734,9634 and 9580

Buy above 9915 Tgt 10001,10096 and 10198

 

Ranbaxy Labs

Ranbaxy is forming a descending pattern which is bearish in nature if it breaks and closed below 467. Holding 467 can see the Stock move on upside

Buy above 476 Tgt 480,483.6 and 488

Sell below 466 Tgt 461,457 and 453

 

ICICI Bank

ICICI bank is facing multiple support in the range of 816-813 ,Holding the same Upside possible till 860 odd levels,Break of same will lead 790-765 odd levels.

Sell below 813 Tgt 896,794 and 787