Jyotika

WHY THE 2ND MOST TRACKED STOCK?

NSE:ICICIBANK   ICICI BANK
After a steep fall due to covid-19, ICICI bank is 2nd most tracked stock in the world right now. Of course the fundamentals ae great, so why ICICI is not able to break its 1/3rd retracement level. ICICI is given buy rating by most of the broker, why? The stock is stuck in an accumulation rectangle pattern, which is a bullish pattern after the decline. If it completes H and S pattern, this can be considered as an continual H and S because the overall sentiment is bullish . If it trades at more the 385 level then the stock is very bullish and the stock is bearish lower 333 level
Comment: Doji in daily chart says reversal/indecisive market sentiment.

Comments

Good analysis.
+1 Reply
Jyotika aryanamar
@aryanamar, thanks.
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