AbhishekHSinghCMT
Long

ICICI Bank- Looking upside with key zone 265-266

NSE:ICICIBANK   ICICI BANK
182 views
5
182 2
Looks like its subdividing into its 5th wave at micro degree. Till the time 265-266 is not breached I will look upside till 274-275 as 1st target zone. Counting waves at such a lower degree is a nightmare, but I am doing my best.

Incase 265 is hit before going to 274 -275 zone, then I will have to look at the price structure again.

Key Zone- 265-266.
Trade active: 12:50 Hrs 19th Oct2016

Price@265.30

Moving in the range of 265-266 for quiet sometime so likely once banknifty completes the retracement & starts moving up it will push ICICI bank also upwards.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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yes m sure count would hv been a nightmare..can v discount a few rules..becuse wave 2 cannot be more than 61.8 % of wave 1 !!!! ???
Reply
No-its a guideline -its not a rule so wave 2 can go deep till 99.99% -I have seen in practice so just sharing it. We only have 3 cardinal rules.
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