gameofmoneys

ICICI Bank - Correction in Ascending Channel

Long
NSE:ICICIBANK   ICICI BANK
89 views
2
It has been observed that price is moving in an ascending channel , over a period of few months.
Will be interesting to see if white bold support line holds on. It could be bottoms up situation developing here.
Buyers seem to be taking grip now.
Tgt around 256.
SL your own.

Suggestions appreciated.
Trade active: Trade up and active... first target achieved.
Happy Trading :)
Trade closed: target reached: Closed the position today. Target achieved. Hope you guys had good time.

Comments

Current market price has multiple support and the last bar has formed a bullish Harami so one can take small risk and go long for the target of 255. I would put Stop loss at 237 and book the loss if it closes below this level.
Reply
gameofmoneys praveen.bhatiya
Correct, plus volume and the claim becomes more evident. Risk is always part of the game, we just try to minimize it. Strict stop loss is always the key to successful trade.
Reply
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