Sell ICICI Bank between Rs 340 & Rs 350 :: HDFC Securities

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--> On the daily as well as on weekly chart the stock is making lower top lower bottom formation. On weekly chart the
stock has formed engulfing pattern, which is bearish indication. Currently the stock is taking support at 38.2%
retracement level. On weekly as well as daily chart the stock has made double top formation after that the stock
started falling, which is a bearish indication. On daily chart the stock has started its downward journey with a down
gap, which suggests current trend in the stock could remain for few weeks.
 Currently on daily chart MACD is on verge of crossing its average from upside, which is a bearish indication. RSI is
currently trading near 40 level, which is away from oversold level.
 If in coming session the traders could create short positions between `.340 to `.350 level for the target `.320 followed
by `.305. The stop loss is placed at `. 360 (Stop loss on weekly closing basis)

LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3010651