ICICI Bank- Below 249 likely has chances for double bottom@243

From the highs of 283.75 - ICICI Bank is travelling into impulse wave & currently tracing out its-((iv)) th wave. Going below 249 which is small rising trendline likely can go to the similar lows or slightly surpass 243 lows once it holds that zone there is a buying opportunity as well in the zones 243-245 for target zone 255-257- for which I need to come back again.

Or small buying opportunity going above 253 highs if- it has not leaked below 249 for target zone 257-259

Regards,
Abhishek H. Singh, CMT

Trade active:

09:49 Hrs 13th Oct2016

Yes ICICI Bank leaked or opened gap down as expected to go close to 243. It made a low@245.15- Heading for the same

Trade active:

10:20 Hrs 13th Oct2016

Trading@243.80

Makes a low@243.25

As expected below 249- likely we will see double bottom. So, let us get some push upside for us to think that it has temp low in place

Trade active:

12:38 Hrs 13th Oct2016

Trading@242.50

Nice -It falls more- I like it