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Tuesday, August 11, 2009

Bullish 3 Drive Pattern in ICICI Bank - 11th Aug 09

ICICI Bank Chart - 5 mins:



Bullish 3 Drive pattern is formed in ICICI Bank, Convergence of Fibonacci ratio is at 711. Little variance in the symmetry is visible. Fibonacci ratios are good. 3 Drive pattern is a reversal pattern it generally forms at the important reversals. Watch out for the entry signals to enter the long trade.

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Update at 10:05 AM:
It broke the 711 in the opening it self , hence no trade.

 

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