Trading Calls: ICICI Bank, Allahabad Bank & Maruti No ratings yet.

Trade Date- 7/03/2018

(1) ICICI bank: The stock has formed a distribution pattern in daily charts which signals selling in the counter. The stock can be shorted just below the immediate support level of 294/- for targets mentioned below:

Technical pattern: Head & Shoulders pattern

Action

Trigger Price

Stop Loss

Target 1

Target 2

SELL <294 312 287 281

(2) Allahabad Bank: The stock is looking very weak on charts and today’s down move sub 50/- odd levels suggest that the counter is totally in favor of bears. The stock can be shorted below 48/- for targets mentioned below

Technical pattern: Downtrend

Action

Trigger Price

Stop Loss

Target 1

Target 2

SELL <48 51.40 46.70 45.00

(3) Maruti: The stock has repeatedly failed to establish ground on higher levels post 9000/- . Any break below the immediate support level of 8600/- will further accentuate the selling pressure in the counter. The stock may be shorted below 8600/- for targets mentioned below

Technical pattern: Support zone break

Action

Trigger Price

Stop Loss

Target 1

Target 2

SELL <8598 8780 8520 8460

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Author: Traders' Chowk

26 thoughts on “Trading Calls: ICICI Bank, Allahabad Bank & Maruti

  1. Please share your view on Adani port….is headed And shoulder pattern made today……and what is lower side Target….

    1. Adani port looks weak. I will not call it a head and shoulders pattern, but yes, the stock is definitely trading in a range and any break below this range may trigger another sell-off.

      The stock may be sold below 370 for targets 0f 350/355 (positional targets)

  2. I already have this shares at high price..
    Gpil at 475 (100 shares)
    IEX at 1555 (30 shares)

    Wanted to average them..
    Wanted to know your view from charts..

  3. Mam can u throw some light ob jain irrigation. I bought 4500 shares @ 140. Now it is 1.5 lakh down.

    1. Tata Motor’s looks weak in short term, break of immediate support of 340/- may again trigger fresh selling in the counter.

      ABFRL can be bought above 149/- for targets of 152/155 (holding period 3-4 sessions)

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