ICICI Bank 21 july 2013 : Broken down and will crash after a brief recovery.

ICICI Bank has breached an important channel in the LT.  After a brief correction, it is highly probable that it heads towards 600.

The chart below shows APFs in the LT alongwith an Inv H&S in brown color (which has possibly met its target).  Presently the price action is heading towards LTL of purple APF and is presently hitting a support line.  A bounce is expected from here before the fall is resumed.

The chart below  shows a MT WW, which targets much lower and will take a much longer time before the target is reached.  The support is shown with green arrow heads.  Presently, the purple channel needs to be used for trading.  A bounce is expected to purple UTL from here, which should be used for shorting for targets of 900, 850 and 750 roughly.