Boult2100

ICICI Bank - Will it Explode to 300?

Long
NSE:ICICIBANK   ICICI BANK
176 views
5
ICICI Bank is underperforming in the Pvt Banking space for quite sometime. It has fallen since Axis Bank announced its bad results while Banknifty has gone up substantially higher, market is anticipating bad results for Q3 on 31st Jan similar to Axis. Technically, it is in an upward channel on weekly charts. Good risk reward to go long at the bottom of the channel. If results come out fine then it can explode to the 285-310 zone fairly quickly.

How to play this now: Buy future/Spot and hedge with ATM long put. IV of calls is very high hence quite expensive ahead of results.
Comment: ICICI Bank up, showing signs of upward movement before the results. LTP 263.4 trading above last week's high.
Comment: LTP 267.60, 3% up..Firing the trading floor.
Comment: LTP 269.25...3.50% up....Don't book profits, It should close near the highs of the day. Humongous volume on this counter. Cash volumes are close to highest in the last 3 years. It is 12.00 PM and volumes are already 4 times higher than the average.
Comment: 66.50 million shares traded up until now, highest volume in a day since August 2013.
Comment: Explosion is going on, 5% up. Volumes 70 million shares.
Comment: Close to 80 million shares in volume. Amazing! Booked intraday profits. Holding positional.
Comment: Day High 274...Closed at 272.
Comment:
Comment: Great day today! Large bull candle with huge volumes.
Comment: LTP 287. First target met. Book some profits here.
Comment:
Comment: Moving towards 300-310 zone. 287-288 hurdle crossed today.

Comments

Awesome!!!👌👍☺☺💐
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