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Icici

25th Oct 2024 - IndusInd lower circuit, ICICI Bank will save us?BankNifty Stance Bearish ️⬇️ BN has fallen only 2.46% ~ 1283 points and is much better than Nifty on a relative basis. IndusInd Bank took a huge beating on Friday as it fell ~ 18.63% due to poor quarterly results. Indian stock markets are not used to such wild reactions, but if our markets start punishing stocks for bad results, I guess it is much better for the future. Ideally, such reactions on stock prices will keep the management on their toes to avoid poor results thereby helping them put in the necessary hard work to achieve the desired results. ICICI Bank will react to its results today, since we are in a bearish hold, would like to see if Sell on Rise is applicable on this scrip. The main point to consider is that ICICI has more than 27% weightage on BankNifty and is single handedly capable of bringing out BN from the Bear hold. 51101 is my first resistance level above which I will change the stance to neutral. For real bearish momentum to pick up, we need to fall below 49704.
NSE:BANKNIFTYShort
by viswaram
20 Feb ’24 — Stance revised to bullish for BankNifty ⬆️⬆️⬆️BankNifty Analysis - Stance Bullish ⬆️ Yesterday we discussed the possibility of HDFC Bank making a move and quite fortunately that came true today. We rallied an impressive 769pts ~ 1.66% today to take out the first resistance (bearish trendline break). Would you believe the elephant jumped 2.63% today along with AXIS Bank 2.41%, Kotak Bank 1.8%. ICICI Bank & SBI was not that stimulated today, even then we managed to rally hard today. Notice the blue-encircled regions where we spent time today trying to break out. The momentum from 14.03 to close was the main and the only reason we had that break through today, otherwise we would have spent the time following the resistance slope. 4mts chart On the higher timeframe, the break above the bearish channel is loud and clear. But we are below the 47465 resistance line (orange color). Since we have an expiry tomorrow and because BN attained the bullish stance today, we expect those levels to be tested and broken by tomorrow itself. Being in trading, we cannot always remain optimistic and expect things to happen our way - that's why we engineer stop losses and fix reversal levels. In case something like that happens tomorrow, we will see if the bears are keeping BN below the blue channel line - if yes, we will reverse our stance back to neutral and wait for the next trigger. 63mts chart Algo Trading Our algo trades ended today with a gain of Rs6904. We stopped the algo at 14.24 as a breakout was looking imminent. We will have to backtest it tomorrow to see if it was the right decision.
NSE:BANKNIFTYLong
by viswaram
19 Feb ’24 — A New All-Time Highs - 22186 Nifty50 ⬆️⬆️⬆️Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “From 15th Dec 2023 to 15th Feb 2024 — Nifty was in a narrow range of 21491 to 21913 with a couple of false breakouts/breakdowns. So we are keeping our fingers crossed this time to validate whether it works out. One way to do that is to check for follow-through price action. Blips do not last that long and we usually fall below the resistance (just like what happened on the last 2 occasions).” 4mts chart The price action today was totally predictable. The break above the resistance of 21913 had an impact on Indian stock markets. Even though SPX & NDQ ended their last session with a loss of 0.48 & 0.9% respectively, it did not stop us from hitting a new all-time high of 22186 today. We even started gap-up followed by sensible price action to close the gap, get the footing, and then rally to new highs. Once we hit the HOD, there was a minor profit booking and we ended the day only with a gain of 81 points. BankNifty did not show its strength today, ICICI Bank looked in top-class form but none of the other major banks supported it. BankNifty as an index is still not bullish, on top of that NiftyIT was in the RED today. That is something that we don't witness every day, N50 hitting new highs without the support from BankNifty and NiftyIT. On the 63 mts time frame, Nifty looks strong and pumped up. We continue to hold on to our bullish stance, if BN or IT index joins N50 - the build-up in momentum will be a treat to watch. Having said that we are not quite sure if we have enough firepower to take out 22500 in this weekly series. 63mts chart
NSE:NIFTYLong
by viswaram
23 Jan ’24 — Almost 1700pts fall + Support break - Bear Attack?BankNifty Analysis - Stance Bearish ⬇️ Banknifty fell an unbelievable 1696pts ~ 3.64% from the HOD to the LOD. As usual, the gap-up of 472pts would have painted the wrong picture today especially when the Traders came ready to play ICICI on the long side. Never in the day, we got a bullish signal today - it was a one way journey from that gap-up to the low of the day. 4mts chart The candle right at the support level of 45399 was the strongest - 215pts fall. This shows the strength the big-boys exerted today to create momentum. Were FIIs pissed off that we made them work on a Saturday? Both Nifty and BankNifty have the same stance (bearish) similar to the one we had on 17th Jan. When Both the indices are in the same direction, it should be a treat to watch. 63mts chart The next support comes at 44542 followed by 44068. The odd thing is that Global markets are so positive except China and Hong-Kong. And we do not have any bad local macro news except for the Sony-Zee saga and Govt. decision to increase the import duty on Gold & Silver. We strongly feel these positions are for the Budget 2024, If you have a better valid point - do mention it in the comments below. Also, we do not have an expiry tomorrow as both BN and N50 will have the monthly expiry on 25th. Strangely in Jan month, BankNifty’s last working day is the 31st on which it has a weekly expiry, but its monthly expiry is on 25th because Nifty’s on 25th. Some things you see only in India.
NSE:BANKNIFTYShort
by viswaram
20 Jan ’24 — Will Quarterly results help the BankNifty bulls?BankNifty Analysis - Stance Bearish ⬇️ For some or the other reason, the 4mts & 63mts charts are not visible on TradingView. It may be due to this unscheduled working day and they might be facing issues with data feeds from vendors. We had a bearish view yesterday also and despite BN ending the day today with 357pts ~ 0.78% we are still maintaining the bearish stance. 16mts chart A shallow support and resistance zone has formed between 45609 and 46025. The first critical support is unchanged at 45399 and the critical resistance at 47465. BankNifty was single-handedly responsible for limiting the losses on Nifty today - so we need to give due credit for that. But take a look at the chart - The fall from 48000+ levels did not just come because HDFCBK had poor results, it may be unwinding by FIIs considering the fiscal policy changes or reforms expectations for Budget 2024. So even if we have super duper results like the KOTAKs and ICICIs - we may not scale up that quickly. Honestly, we prefer if BN could reclaim the ATHs and support Nifty to crawl back into the channel. The US market hit a new ATH yesterday - SPX and the mood is euphoric.
NSE:BANKNIFTYShort
by viswaram
18th Dec ’23 - BankNifty stance changed from bullish to neutral BankNifty Analysis We got some interesting moves today by BankNifty. During pre-open ICICI bank was looking very weak but other banks were looking okay. But once markets opened - BN fell to 47810 by 09.19. The 2 horizontal blue lines I have drawn are the weak support and resistance lines from the last 2 days of action. BN went above the 47873 and was trading above that for most of the time. 4mts chart link - click here We got one hit at 13.11 and the 2nd one by 14.43. After the 2nd hit, BN briefly fell below the support level and the final closing was at 47862. The LOD was broken 15.23 - so it is like we closed into weakness. The distance to my target of 47754 remained at just 52pts. And that is the main reason why I prefer to change my stance from long to neutral for tomorrow. 63 mts chart link - click here If BN builds back momentum by tomorrow afternoon (FinNifty’s expiry could help), then it has to take out the ATH - only then I would prefer to switch back to bullish mode. To go bearish, the first step BN has to do is take out the top boundary of the ascending channel pretty quickly.
NSE:BANKNIFTY
by viswaram
ICICI BANK ( Looking to invest 💥)Add this to watchlist and wait for entry.👁️‍🗨️ For short term investment ; Leave a " Like If you agree ".👍 . Wait for small retracement & daily candle to close above - "972" . Trade carefully untill ENTRY level. . Entry: 972 target: 975 - 985 sl: 965 -960 major stoploss/ support: 960 . . Enter only if market Breaks "Yellow box" mentioned. . . Don't make complicated trade set-up.📈📉 Keep it " simple, focus on consistency "💹 Refer our old ideas for accuracy rate🧑‍💻 Follow for daily updates👍 . Refer over old posted idea attached below.
NSE:ICICIBANKLong
by TheNuraTrading
2
23rd Oct ’23 - BankNifty is well below the 28th June levelsBankNifty Analysis BankNifty on the other hand had a gap up open, thanks to the excellent results from ICICI Bank. To a great extent, BankNifty resisted the down move on Nifty. Even till 13.55, it was only 0.17% below the previous close. But right after that, it fell like a house of cards. Whatever support ICICI gave till then was undone. ICICI ended up closing negative 0.3%, remember that it stayed green till 14.55. An intraday swing of 2.06%. BankNifty also broke 2 supports today, 43404 and 43253, both of them after 14.55. These supports offered no protection today, the momentum to cruise through was that strong. Fortunately, the 43012 support (3rd support) was held today. On the daily time frame, BankNifty has already undone the 28th June adventure. We are now trading at levels seen in the first week of May. The next major support after 43012 comes at 42576 and then at 42130. Going by the depth of the red candle today - it is quite likely that we retest those levels quickly.
NSE:BANKNIFTYShort
by viswaram
1
KotakBank BO of 18 month consolidationHi guys, A bullish breakout of more than 18 month long consolidation has been oberved in NSE:KOTAKBANK . If it managed to close above the trendline today then we can create a fresh position in the scrip at todays closing. sl and targets will be shared later. Exit the position if the stop loss is triggered on WCB. DO YOU WANT ALL MY RESEARCH FOR FREE THEN DON'T FORGET TO FOLLOW ME. I AM EAGERLY WAITING FOR YOUR COMMENTS ON THE STUDY... Disclaimer: Content shared is for information and education purposes only and should not be treated as investment or trading advice. Please do your own analysis or take independent professional financial advice before making any investments based on your own personal circumstances. Investment in securities are subject to market risks, please carry out your due diligence before investing. And last but not the least, past performance is not indicative of future returns.
NSE:KOTAKBANKLong
by raigvivek
All eyes on ICICI Bank at 960 - Sell or Buy more?Having a plan of action before a stock you hold comes to a crucial point is essential. You have 3 decisions to make in ICICI Bank as it comes to LTH. All eyes will be on 960. I hope these rules help There are sellers at 960 - if the stock moves there slowly it will get hit back - possibly all the way back to 940 Just like happened in ITC - we need to clear the Life time high with force - maybe on an EOD basis on high volumes. At that point sellers could turn into buyers , clearing the way to 1000 Also highlights the importance of doing the fundamental work before hand - the results gave enough time to buyers to get in Setting alerts on TV is essential to avoid "reaction based trading" - set alerts and only take actions once they are triggered. Hope this helps - all comments and criticisms are welcome
NSE:JINDALSTEL
by kunal_finner
4