dravya

ICICIBANK - Broke Weekly Levels

Long
NSE:ICICIBANK   ICICI BANK
232 views
The stock is in very good uptrend.
Was the biggest contributor in post-election rally. '

Buy according to strategy.
For eg. Aggresive might buy with break of white line as SL and target previous swing high of 293.
Defensive might wait for it to come to the trendline and then buy for medium term.
And so on...

Yellow trendline to aid.

Definitely, a stock to keep in portfolio if you're expecting Nifty to move even higher.
Comment: See on Monday if the high of the daily candle fails to touch the white line.
Comment: U-Turn from Resistance. Will see if it takes support or breaks down from the trendline.
Comment: Currently, exactly at yellow trendline.
Comment: Structure seems negative to me, avoid longs on this support.
Comment: Down Down Down :D
Confirmed that it won't hold the support.
Comment: Forms inside doji. waiting for it to come to any of those lines. till then, probably not looking.

Comments

Hi Dravya ji, ICICI just a little above the trend line now. Do you see any upsides from here, or price needs to clear R285 which is the whiteline
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dravya raj.zing
@raj.zing, I have posted a newer chart for ICICI. refer to that.
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raj.zing dravya
Thanks @dravya. Your charts are simple to understand and your followup updates are very helpful. Thanks once again
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dravya raj.zing
@raj.zing, good to know that :)
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Thanks for your view on Icici.
Reply
dravya AMBRISH
@AMBRISH, Welcome !
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AMBRISH dravya
@dravya, #BreakingNews @MorganStanley Downgrades ICICI Bank, Axis Bank & HDFC Bank; Upgrades M&M Finance, MCX, Federal Bank.
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dravya AMBRISH
@AMBRISH, Thanks for sharing. Keep sharing such good info :) . So now, more likely to go down :D
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The stock is at major resistance, my view on it is that if it starts to trade above 290, it could blast to 315 level.
Reply
dravya n.bhaskar1993
@n.bhaskar1993, let's see :)
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