SWING IDEA - ICICI BANK

Sep 9, 2023

technicals suggest a gradual upside in ICICI BANK. There are multiple confirmations for the same. The reasons are stated below :

• 954 levels previously acted as a strong resistance and now the stock price broke 954 levels, which now acts as a support.
  
• there has been a consolidation in the stock price for last 2months forming a falling wedge pattern(bullish sign)
  
• support on the 50EMA (ON DAILY TF)
  
• break of the trend line
  

Stock could easily move unto 1050 - 1111 levels in coming weeks.

Sep 13, 2023

Note

currently, stock is up by 2% from our buying price and formed 2 doji candles which indeed shows that the price is trying to sustain on upper levels

Sep 25, 2023

Note

ICICI BANK retested the 950 levels which seems to be a
strong support and formed a bullish candle.

ADVICE : can hold with a tight SL of 935

Sep 30, 2023

Note

SL just got saved.
price returned from 935 twice and
formed a hammer candle twice.

we'll hold onto to the trade with SL of 935(on closing basis)

Oct 8, 2023

Note

One can still hold onto the stock.
With the same SL.
If we get a strong close below 935, we'll exit.

Oct 24, 2023

Note

SL HIT !!!

EXIT from this trade.

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