ICICIBANK heading to 610 now
Updated
In continuation to my view published on 01-DEC
As we have now breached 06DEC low 707.5 we are now in a incomplete bearish sequence by making Lower High and Lower Lows. This sequence started as a corrective wave after completing Cycle which started from MAr-20 and made high on 25-oct @ 687. and than started its corrective move which completed its 1st leg on 06DEc @ 607.5 and made a connector to form B in RED on 13DEc @ 769.7 and now is heading to complete its 3rd leg to complete the corrective cycle.
This leg we can expect to reach upto 610 level now which will be our Entry Level for a next UPSIDE move.
As we have now breached 06DEC low 707.5 we are now in a incomplete bearish sequence by making Lower High and Lower Lows. This sequence started as a corrective wave after completing Cycle which started from MAr-20 and made high on 25-oct @ 687. and than started its corrective move which completed its 1st leg on 06DEc @ 607.5 and made a connector to form B in RED on 13DEc @ 769.7 and now is heading to complete its 3rd leg to complete the corrective cycle.
This leg we can expect to reach upto 610 level now which will be our Entry Level for a next UPSIDE move.
Note
If 23dec high is taken out than in my view it is going to form a new connector AB in red and it may extend its up move at least upto 757.4 - 782.9 Zone marked in BLUE before resuming its move down ward for completion of 3 wave correction which started from 867 on 25-oct.
This will also change our Entry level for Next buying opportunity and it may shift downwards upto may be 588 Zone.
Note
ICICI now approaching our buying zone @ 667 so GET READY for and Buying entry
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