Table of Contents
ICICI Bank Technical Analysis
- Price was in uptrend since 2016.
- Uptrend accelerated from Mid-2018.
- Stock price has slipped into sharp decline during March 2020. Downside breakout confirmed.
- Daily price is moving between Upward sloping consolidation zone.
- An Upside or Downside breakout will happen in near days.
Accumulate this stock in between 230-270 which is a major support. Our advice for short term trading target is near 400.
For the medium term, ICICI Bank share price target will be 480-550.
Larsen & Toubro Technical Analysis
- Since 2009, L&T share price is clearly in Uptrend.
- Uptrend accelerated further in the mid of 2013 and make high near 1600.
- Major Support still holds.
Share Price may test major support again.
Accumulate this stock in between 670-750.
L&T Price Target: 1400-1500.
JSW Steel Technical Analysis
- JSW Steel witnessed a strong rally during 2013-2019, rallying from ₹46 to lifetime high of ₹427.55
- Sharp uptrend breakout in July 2019 and price fall to ₹140 which is a strong support.
- Breaking this support will push the price further below at 85.
- Rising wedge formation.
- Gap down and Downside price breakout.
- Price may reach 130-140.
Sooner or later, the stock may test 130-140 again. This could be a potential buying opportunity considering the support holds.
JSW Steel Price target: 260 – 280
Vedanta Technical Analysis
- Vedanta share price had already tested the yearly support at 60.
- Currently, the price is consolidating in between the highlighted area.
Emami Limited Technical Analysis
- Weekly support as shown in the chart as Support 1, 2 and 3.
- Breaking each support can push the price further downwards to the next support.
- Price breakout in daily chart.
Accumulate this stock near 130-150.
Emami Limited target will be 350-400
National Aluminium Technical Analysis
- (1) Uptrendline. Currently price at support.
- (2) Long term Monthly Support. Great buying opportunity near 24.
- (3) Huge volume sold.
As long as the price is at Support, hold the position.
According to recent price development, we are expecting price breakout in near days.
Accumulate this stock near the long term support at 24-26.