Best part of financial markets is they never move in straight line - ups & downs - downs & ups that's the beauty of the markets.
Plan A (Short Term)
Strictly moving above 1360 levels later holding 1340-1360 zone as support for upside target - 1410-1420 zone
Selling later, if stock stops in 1410 - 1420 zone post completing the target as...
ICICI Bank find strong support at 200 sma & nice Bounce with good Volume.
Bullish on stock due to below point:
1) Good Bounce from 200 sma with more volume greater than last 20 day average Volume.
2) Big Bullish candle at form at confluence of support zone 375-385 & 200 sma placed at 386.
3) Good risk reward ratio trader to enter.
Nifty has arrived the resistance level of the descending channel. If tomorrow price gaps down and moves downward in first 15 min, a short position can be opened with SL above the swing high and a target of 11650.
If price gaps up and sustains over today's high, this trade plan will no more be valid.
Price action - Bounce on 15 EMA and if tomorrows candle is also green and above the 15 EMA then enter for short term target of 628
Ichimoku positive and future kumo is green.
Note : This is for educational purpose only.
Entry point should be the low of previous swing low which is 126.7.
If it goes below 126.7 then short it with stop loss of nearest high of a swing high: 130.6.
If it bounces up from 126.7 then take a long position with stop loss of nearest low of a swing low: 123.15.