Monday, October 6, 2014

Nifty Astro Technicals ICICI October 06 2014

We will look at another stock here, which moves in sympathy with Nifty most often...ICICI
In the monthly chart, we see ICICI completing wave 1 of a new impulse. Currently it is in wave 2..After the long term wave 2, ICICI is in for a fine upmove when bigger wave 3 starts.

Weekly chart shows the impulse divisions of wave 1 and the 38.2% retracement level for the current move. 1361 should be an important level.
Daily chart shows the down move labelling.Wave a should bottom out around 1361 levels and then an upmove of b should start. This can go up to the recent top...
30 Min chart shows further break up of the current wave c. Whatever immediate improvement we see should only be shorted. We may wait for wave c to be completed, before embarking on a positional buy.

Good luck!

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