Support Breakdown in ICICIBANKThe breakdown of a key support level typically signals that sellers have gained control over the stock, which often leads to further declines.
The chart shows ICICI Bank's daily price slipping below strong support, which traders watch carefully to time short or protective put option trades.
Buying puts here benefits from the falling stock price causing put premiums to rise.
The suggested profit targets and stop-loss levels are based on technical price levels derived from the previous support turned resistance and the magnitude of the breakdown move.
This trade idea is best suited for traders comfortable with short-term bearish plays using direct short selling or options strategies that capitalize on falling prices.
