September 18, 2015



  • SBI Month chart shows good bounce so far. Month closing like this or higher may extend the up move. 
  • 2nd and 3rd charts shows possible resistance levels for the current bounce.




  • First chart shows bounce from major support area for ICIC Bank. Bigger falls will not happen till price stays above this zone.
  • Strength only above 100 Week SMA and 320 levels.

  • IFCI Daily chart shows price moving above the falling resistance line. Weekly chart shows price bouncing from important support zone at 17 levels. Sustaining above 17 levels IFCI Can bounce higher. Sideways moves may happen before bigger up move can happen.
  • Major weakness for the stock if 17 levels gets broken.


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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore