Trading_hawk

Simple Trade Setup | ICICIBANK | 24-08-2021

NSE:ICICIBANK   ICICI BANK
NSE:ICICIBANK


Observations:
1) On daily time frame, it is testing highs of Feb-2021. And it is taking support from 674 level range since last 2 days.

2) It is trading below 21DMA but above 50DMA .

Please refer Chart below: daily time frame.



3) On 15min Time frame it is trading in the descending channel pattern.

Please refer chart below: 15min time frame.

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Trade Setup for Date 24-08-2021:


1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart below. I hope it is easy to understand.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Trade active:
Target 700

Comments

It moved as it has seen your review 😊👍
+1 Reply
Trading_hawk saurabhbakliwal1001
@saurabhbakliwal1001,
Thank you very much for your comment.
Such comment motivates to do more and more.
Reply
@Trading_hawk, thankful for your guidance.
Reply
Trading_hawk saurabhbakliwal1001
@saurabhbakliwal1001,
Your welcome.
Reply
It has to break resistance 696 and RSI resistance in RSI chart for upmove.

Reply


In between support (693) and resistance (696).
Reply
Date: 25-08-2021



Holding above the channel.
Reply


Hope you are having good trade.
Reply
If it breaks the channel upward then it will turn bullish. And if it closed above 694 today then one can carry for tomorrow as well with SL of 692

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