Structure Reading of Strong stocksStructure Reading of Strong stocks. How to read similar strong stocks but different structure.
ICICIBANK
Power of consolidationConsolidation for long time, better it is. You just need to wait for breakout.
ICICI BANKIt has come to an Ichimoku Kumo support on daily time frame. In lower time frame it has given signs of reversal. It could retest 378 / 390 / 410 if it stays above 362.
Ichimoku is a Japanese study based on specific Moving Averages wherein just like Dow Theory the analyst with a one glance deciphers if price is above Kumo or below looking for an equilibrium set up
ICICIBank under bear pressure - Gravestone DojiNSE:ICICIBANK has formed a gravestone doji near the supply zone.
Use these levels for coming days...
ICICI BANKIt has activated a False Breakout Continuation Pattern. It could retrace till 360/400 (which also happen to be Ichimoku based Cloud resistance levels) provided it does not go below 305
Icici bank below 375 next 350-330 -320- below 320 more Icici bank below 375 next 350-330 -320- below 320 more
ICICI BANKIt is attempting a breakout as per Ichimoku in hourly time frame, which also happens to be a weekly resistance. If it manages to give an hourly close above 335 then it could test 370 and above that 425. View would negate below 315
Important of TAIL on ICICIBANK will full of your pocket.For each U-term , this stock is created TAIL .
Look at the box, I have drawn TAIL so you can easily check it. Suppose, wave(2) has Tur n then it will create a tail on hrs chart .
Resistance 423 nearby.
Predicted waves if everything fine.
