IBN
ICICI BANK LTD ADS
Daily Commentary

Our system posted a BUY CONFIRMED today. The previous SELL recommendation was issued on 10.20.2009 (14) days ago, when the stock price was 41.2200. Since then IBN has fallen -19.72% .

BUY-IF is confirmed by a white candlestick with a lower open and a higher close. The buying price is the previous close ( 32.800 ) according to the Rules of Confirmation.

The recent bullish formation leading to the BUY-IF signal is confirmed today. The market is ready for a new bullish move. Though the market opened lower today, the day’s activity created a white candlestick that closed above the previous close. This is a valid confirmation criterion.

We hope that you acted quickly and already bought this stock . Your important benchmark was the previous close. You were supposed to watch the session carefully, feel its bullish tendency despite the lower opening, and go long after making sure that the prices stay over the previous close.

If you bought, continue to hold this stock until the confirmation of the next SELL-IF signal. You are on safe grounds as long as the future prices continue to trade above the benchmark price. What to do if you did not buy? Maybe, you did not have time to follow the session or you simply delegated the delicate job of confirmation to us. Well, it is a bit late, but not too late. You may still find suitable prices for buying in the following sessions.

The market is currently cold for short-sellers. Avoid any short sales and cover the short positions immediately if there are any.
Data provided by: End of Day Data


BUY
CONFIRMED

33.090
+0.2900 +0.88%
Candlestick Analysis
Today’s Candlestick Patterns:
White Candlestick

Candlestick Pattern

Today a White Candlestick was formed. This represents normal buying pressure.
For more about this candlestick click here.