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
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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
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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
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12:38 Hrs 13th Oct2016
Trading@242.50
Nice -It falls more- I like it
Comments
vishalp2
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Is buying opportunity in ICICI here
WaveTalks
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It could be a double bottom as expected in main update. I am monitoring price action.
sakesh1858
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may be we are in wave 3 decline
WaveTalks
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could be -not sure at the moment- post your views if you have any charts