ICICI Bank: Is it a good Buy now...???

ICICI Bank

Every thing explained in chart itself.

Just to reiterate
- 868-888 may act as resistance zone
- Minor support at 835-840
- If that is taken out then downside possibility opens up once again for sub 800 odd levels


Given the setup one may consider to go for a Bear Call Spread strategy for Feb series

Sell 880 Call option
Buy 920 Call option

Profit potential of 11.6% on Margin requirement. Risk of rise up to 888 is taken care of by the strategy.


Take care & safe trading...!!!

Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be