ICICI Bank- 3rd attempt to cross 960, will it succeed?

960 is upon us again. ICICI Bank has a number of factors lined up this time. However there is one missing piece that i would like to see fall into place to confirm this breakout

1. Several breakouts in ICICI Bank have failed in the last 12 months. This time maybe different
   
2. Other banks like Axis, PNB are moving strongly, so a move in ICICI Bank was expected
   
3. The sellers at 960 may have been cleared last time when we came up in June. Then the stock was overbought - this time it isnt
   
4. Results on the 22nd of July - this maybe a classic earnings run by people who know
   
5. Overhead supply this time is far less - and hence pull to 970 is likely. Dont buy the break, but wait for the retest of the high to buy it in the safest possible way
   

Additionally call premiums are very low - they are discounting results. So basically get a free hit on the results:)

Comment:

Much more overhead supply than earlier anticipated. Still wait and watch for me. Will need to give this more time to consol

Comment:

Great results - will move to 1200 or so in 3-6 months. However it could show a shakeout before that - be ready to buy at 21 ema.

Markets are a tad soft - so the move up maybe slower than anticipated. Good way to play is to sell put credit spreads when it comes down to the 21 EMA