ICICI

Everyday I have to think whether banks have built the strength to breakout or not. If it was not for people asking I think I should not write about banks or bank nifty anymore. That said I am back looking at the possibility that triangles are still forming for stocks like ICICI bank. 61.8% support is at 329 and if it holds we get a truncated wave E down. Else the lower line is all the way down to 315. After wvae E is complete have to look for signs of strength returning to call a move higher. Lets us wait and see.