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Chart check: How to trade HCL Tech and ICICI Bank post their Q4 results?

Both the stocks are in news on Monday after the companies announced their January - March 2020 numbers over the weekend.

Topics
Q4 Results | ICICI Bank  | HCL Tech

Avdhut Bagkar  |  Mumbai 

ICICI Bank Ltd (ICICIBANK) Likely target: Rs 635 Upside potential: 5% After dipping below the 100-day moving average (DMA), the counter has displayed a firm reversal from Rs 530 to Rs 525 levels. This move needs to scale above 50-DMA, which is currently placed at Rs 600 levels in a decisive manner to embark on a new breakout.

If that happens, a rally towards the next resistance of Rs 635 cannot be ruled out. The Relative Strength Index (RSI) has made a formation of Inverse Head and Shoulder, with a breakout above 50 value. If the counter gives a firm close where the RSI is able to ...

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First Published: Mon, April 26 2021. 10:21 IST
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