Crime Today News
The outlook is bearish for ICICI Securities. The uptrend has reversed after forming a double-top pattern. The share price has been falling for more than two weeks now. This week the stock has tumbled over 7 per cent. Bearish moving average cross overs on the daily chart also strengthens the bearish case. Resistances are at â¹760 and â¹773. ICICI Securities share price can fall to â¹710 initially.
A break below â¹710 can drag the share price further down to â¹670 in the next few weeks. Traders can go short now at â¹736. Accumulate shorts on a rise at â¹758. Keep a stop-loss at â¹775 initially. Trail the stop-loss down to â¹730 as soon as the stock moves down to â¹715. Move the stop-loss further lower to â¹705 when the price touches â¹690. Exit the stock at â¹680
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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