Technical Overview of ICICIPRULI: Currently the stock is trading at 463 and around the same levels stock has made previous top i.e. 07th May 2018. After that stock has started to trade in “Lower Low – Lower High”. In the first week of February 2019, stock has bottomed out around price 283 and given confirmation by Bullish Engulf. On 01st April 2019, the stock price has given breakout to previous Lower High and started to trade in “Higher High – Higher Low”. The stock has touched the same price level in the last week and completed Cup. Now we are expecting small pullback till 445 to complete the Handle and plus point is today stock has created Inverted Hammer on a daily chart. Once we will get 100% confirmation of Cup & Handle with breakout then we will go for 500 and more.
However, we don’t want to miss small opportunities. Buy on dips till 445 i.e. near support of daily chart. Looking target of 465 with a stop loss of 430. If big dip comes then we can buy around next support i.e. 415.
However, we don’t want to miss small opportunities. Buy on dips till 445 i.e. near support of daily chart. Looking target of 465 with a stop loss of 430. If big dip comes then we can buy around next support i.e. 415.
Trade closed: target reached:
485++