ICICI Bank Trading – 05Aug2016

https://www.tradingview.com/x/fsZla4th/

ICICI Bank stock remains in sell zone as of 05 Aug 2016. Buy zone will start above 250. The stock has a history of recovering sharply from oversold areas due to rapid short covering.

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Bonus Trade: Buy Glenmark Pharma for Target 919

Here is a bonus trade for our regular website visitors. Buy Glenmark Pharma (NSE:GLENMARK) stock at current market price (INR) 829, for target 919, and 789 as Stop Loss. This stock is listed on NSE and BSE in India. This trade can give 10% gain, and is likely to play out in the coming 4-5 weeks. Following are the trade details.
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Date: 01 May 2016
Stock: Glenmark Pharma (NSE:GLENMARK)
Buy at: 829
Target: 919
Stop: 789
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There should be significant resistance/selling pressure between 919 and 959. Above 959 closing, the stock becomes a fresh buy for higher targets. Continue reading

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Nasdaq Yearly Highs and Lows

Year 52 Wk High Date 52 Wk Low Date

2016 5,058.06 1st-Jan 4,209.764 12th-Feb
2015 5,229.00 22nd-Jul 4,292.144 25th-Aug
2014 4,814.95 27th-Dec 3,946.034 16th-Apr
2013 4,175.36 28th-Dec 2,953.524 1st-Jan
2012 3,196.93 22nd-Sep 2,627.234 5th-Jan
2011 2,887.75 2nd-May 2,298.894 5th-Oct
2010 2,675.26 22nd-Dec 2,061.144 1st-Jul
2009 2,295.80 28th-Dec 1,265.524 9th-Mar
2008 2,661.50 2nd-Jan 1,295.484 21st-Nov
2007 2,861.51 13th-May 2,331.574 14th-Mar

What do you observe from the table?
– Jan high means lots of fall down the year, but this will be known in retrospect only.
– Jan-Feb combination is not there for High-Lows, so one of these two will break in the coming months. So either a new 52 week high, or a new 52 week low is coming. Continue reading

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