Chart Check from Emkay Global for Thursday, February 02: ICICI Bank, Tata Motors

We have compiled technical recommendation from Dharmesh Patel, Technical Analyst at Emkay Global Financial Services for today.

Dharmesh Patel, Technical Analyst, Emkay Global Financial Services

ICICI Bank: Sell with a stop loss of Rs 808

Sell: The stock is making a terminal wedge close to the barrier of 200-DMA. Also the 14-day RSI is hinting towards a short term pull back. Sell with a stop loss of 954 for the target of 808. Time frame: 15-20 trading sessions.

Tata Motors: Sell with a target of Rs 228

Sell: The stock is well below the barrier of previous swing high and is facing supply pressure at current level of 248.5 odd. Also the daily momentum is shifting gears and is rolling over into the favour of the bears. Sell with a stop loss of 258 for the target of 228. Time frame: 15-20 trading sessions.