shikhagupta2589
Long

Once again ICICI BANK can breakthrough all bulls expectations.

NSE:ICICIBANK   ICICI BANK
ICICI Bank can move towards 400-414-434. Below is my strategy for traders in this banking stock.
Upwards:-
Wait for ICICI Bank to take a direction. It currently stands at its resistance of 380. If this moves upwards or opens with gap-up , take an entry/buy position at 386-388 only after it touches 388 atleast once.
Entry point: 388, SL: 378, Target: 400 (Intraday), 414 (within 2 days), 434 by next week.

The stock is exhibiting uptrend and should achieve the targets as quoted above.

Downwards:-
The next level/support is 343. The long positions can be squared off at 372 in case of downward move(not in case of gap down opening, hold for pull up in this case and then consider this whole strategy). You could short ICICI bank to see intraday lows of 354 or 343 within next 2 days.
Comment: Hi Traders if ICICI BANK clearly breaches 414, It will burst and exhibit breakout heading towards 540.25 in a few sessions.

The next levels to look are 414, 433.

Comments

HOW DID YOU FOUNF 414 PLEASE EXPLAIN ME
THANK YOU
Reply
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