Federal Bank has given a triangle pattern breakout with volume confirmation this week on weekly charts which indicates strong positive sentiments for medium and to long terms
The momentum and technical indicators all point to the possibility of prices moving higher to 110 level .
Stop loss should be maintained at 85 levels
LTI looks week on the 1 hour time frame chart as there is formation of Descending Triangle formation which is a symbol of Bearish continuation . The stock RSI is also below 50 levels as well as the Candle has given closing below the 10 day MA which indicate that we may see some selling pressure in this stock . If the stock breaks its support lines then we may see...
JINDALSTEL showing falling wedge pattern breakout . This stock will give upside move up to 500+ projected target in short term period. The MACD bullish crossover has taken place in oversold zone . The relative strength index above 50 has also given confirmation . Candle formation above 50day EMA
Watch out and keep an eye for initial targets of 440 with the stop...
Stock :- ICICI Bank
C.M.P :- 700.85
Analysis date :- 29/09/2021
View :- for short duration(7- 15 days )
ICICI bank shows the Rising wedge pattern which is a bearish reversal pattern as the stock looks weak as the RSI indicator is below the 50 levels as wells as the candle has closed below the 9 day EMA . there exist small support at 680 levels, so the immediate...
