ICICI

ICICI has closed today below the rising channel it had been moving in since 12th Dec. Support at 879-874, below which, it would be weak. However, the trendline drawn from the July 2006 lows has held so far except once on 12th Dec, when it was violated with the scrip closing below it. The scrip bounce back the very next day and respected the trendline by closing above it. Break of this trendline again and two closes below it would be bearish for ICICI, I would say. Trade accordingly.