virajmokadam

ICICI BANK Analysis for INTRADAY/SWING

NSE:ICICIBANK   ICICI BANK
1. In descending triangle pattern.
2. Price is mostly below VWAP and 20EMA.
3. In last 4 days most of the wide range candles are RED.
4. During last 4 sessions the last 30-45 mins see very high volume as compared to full day.
5. These high volumes candles on 15M TF are mostly hammer pattern.
6. Stock recently made ATH at 679. 40 (16th Feb) and from their it had pulled back till 573.45(22nd Mar).
7. After making ATH, structure has changed to LH-LL in Daily TF but still bullish on weekly TF.
8. INTRADAY - If this stock breaks 570 then it can go till 565. If breaks 580 then till 588. SL as per RR.
9. SWING - Stock can be accumulated between 550-570 for mid to long term.
10. As currently BNF is in down structure so this stock can be a good pick for short in intraday.
11. Overall, I believe stock is being accumulated by institutes and can go for a strong up move in up coming days, may be in April month.

Support line - Green
Resistance line - Red
Trend Line - White
VWAP Line - Yellow
20EMA Line - Blue

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.