Icici Bank

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  #1  
Old 28th September 2006, 08:52 PM
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Join Date: Mar 2006
Posts: 14
ameet777 is on a distinguished road
Default Icici Bank



hi guys!
i've bought 1 lot of icicibank oct futures at rs. 677
i watched on cnbc channel that ashwani gujral is telling that icici bank has given a very good breakout above 670 and can run up all the way to 1000.
now i know it's not going to happen over night if it will at all!
but i just want to know that is it a good idea that i hold on to my position and keep on rolling over to next month futures when fno expiry comes?
i can stay invested for 12 months.the reason i'm not buying icici bank in cash market and instead thinking about rolling over every month my futures position is because i have to pay only 25% margin on stock futures so i gain 4 times as compared to the cash segment.
now i know that this can happen the other way also and i can end up with 4 times the losses as against cash segment so also let me know about this stock's downside risk potential.
also tell me if there're any better bets than icici bank for the strategy that i've explained above.
a sincere advice by senior members will be highly appreciated.
thnx

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  #2  
Old 28th September 2006, 10:21 PM
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Join Date: Nov 2005
Location: Delhi
Posts: 426
kuldeep49 is on a distinguished road
Default Re: Icici Bank

Quote:
Originally Posted by ameet777 View Post
hi guys!
i've bought 1 lot of icicibank oct futures at rs. 677
i watched on cnbc channel that ashwani gujral is telling that icici bank has given a very good breakout above 670 and can run up all the way to 1000.
now i know it's not going to happen over night if it will at all!
but i just want to know that is it a good idea that i hold on to my position and keep on rolling over to next month futures when fno expiry comes?
i can stay invested for 12 months.the reason i'm not buying icici bank in cash market and instead thinking about rolling over every month my futures position is because i have to pay only 25% margin on stock futures so i gain 4 times as compared to the cash segment.
now i know that this can happen the other way also and i can end up with 4 times the losses as against cash segment so also let me know about this stock's downside risk potential.
also tell me if there're any better bets than icici bank for the strategy that i've explained above.
a sincere advice by senior members will be highly appreciated.
thnx
Hi Ameet,
From the charts ICICI looks good. It is in a strong uptrend. Today's news was also very positive. My suggestion is to keep a stoploss of 630.
Rgds
Kuldeep

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