ICICI Bank has a strong resistance at 1030-1035 level, because of the downtrend. The closing price today (17 Feb 2014) was 1009, so we have 2-3% gain available in ICICI Bank trading in the next 2-3 days. Trading with stock/futures is advisable because options trading may not produce suitable gains due to eroding time value ahead of options expiry on 26 Feb 2014.
20 Jan 2011: Wall Street tracked declines in equities around the world after growth in gross domestic product in China accelerated to a 9.8% rate in the final quarter of 2010. The faster-than-forecast growth rate bolstered concerns that China would do more interest-rate hikes to control inflation, thereby reducing Chinese demand for commodities and raw materials, potentially derailing the global economic recovery.
US stocks were in constant search of direction the whole day. For every five stocks climbing, nine fell on the NYSE, with nearly 1.2 billion shares traded. Stocks suffered a big loss in the initial trading hours but managed to move up later in the day as better than expected economic data tried to pull up stocks. A strong dollar and concerns that China might go for further tightening of its macro economic policies put a brake on this. Continue reading Positive US Economic Data supports US stocks – 20 Jan 2011
We are seeing lots of news about the Indian banking industry in the domestic as well as in overseas markets. The Indian Budget 2010-11 has mentioned new banking licenses, which means we will see new players and hence more competition, and better savings and lending rates, which is better for the consumers and borrowers.