Saturday, 7 February 2015

ICICI BANK(INDIA) POISED FOR BEARISH SWING TO 295/300 RANGE. DAILY CHART ANALYSIS UPDATED 06 FEB 2015

BEARS GAINING UPPER HAND IN ICICI BANK?












The stock of ICICI Bank has been under pressure even since the results were announced last week.
Technically, the prices have broken the channel and trendline support in the 345-350 range and is poised to move lower in the coming weeks. the decline has come on above average volumes indicating that bears have upper hand for the near term.


Mohan Raghav.

Tuesday, 6 January 2015

CRUDE OIL POISED TO FORM SHORT TERM BOTTOM ? NYMEX CRUDE CMP 48$/MCX 3068.WEEKLY CHART ANALYSIS OF MCX CRUDE JAN 6 2015.

CRUDE OIL: EXTREMELY OVERSOLD (RSI 9) IN THE SHORT TERM






















Crude oil prices have fallen by more than 65% from the peak and trading at extremely oversold levels. OPEC seems to be bent on keeping prices below 60/65$ levels where the shale gas producers appear to break even. However, in the short term the fall may have been overdone and a rally to 3300/3500 levels ( a 10-15% rise) cannot be ruled out. In dollar terms crude is trading at 48$ and a snap back rally to 55-58$ is not ruled out.


Mohan Raghav