ICICIBANK is in a strong up trend
which is clearly visible in the chart below. It has closed at 1286.90. This
stock is at life time high close. This again is a clear cut indication of a
strong bull trend prevailing in the stock. Another factor is that it has
entered into an unchartered territory, where going long with a trailing Stop
Loss is more profitable strategy than predicting a level to book profit and
exit the position. One can initiate
a long position in ICICIBANK for the
targets which are quite high, as high as 1306 and 1326 kind of levels. A closing
basis Stop Loss can be set at 1266.
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