1. The trend lines have been drawn on the basis of previous days reversal levels of the stock along with other market data/indicators.
2. The trend lines are valid for intraday trade on March 02,2020.
3. Performance report of the chart will be shared after market trading hours, depicting any buy or sell signal, if any, generated during trading hours and its...
ICICI Bank is in consolidation Phase and expecting the price may up.This is our view about the price moment of the stock. Please invest after your own analysis. Follow us on Telegram channel UG MARKET.
Buy above :542.5, T1 - 543.5 , T2 - 546, T3 - 549, SL-537.8.
The resistance level is being tested many time in lower time frames and daily chart show flag (and also breakout pennant) which suggest long oppurtunity for long term.
For short term the price may go down from the resistance level and hit the target as I mentioned earlier.
Buy above : 533.40 Target 1 - 537 , Target 2 - 546 ; Stop loss : 527.97
Sell below : 523.57 Target 1 - 520 , Target 2 - 516.70 ; Stop loss: 529.50
This stock is only for educational purpose, trade at your own risk after analyzing the chart by yourself.
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Higher TFs have alreadyy thrown a nice breakout to the ATH. Monthly RSI is overbought now. Looking at the price action, I don't see a big reversal of any sorts.
There is a nice 3 Bar Negative Classical Divergence (NCD) in the Daily. Also, it being at the ATHs and overbought levels make it more strong. The last candle was an upside rejection candle, again showing...
ICICI Bank has touched the upper line of the channel and forming (in process) bearish candles. This may lead stock correction towards 453-457 level.
May create Short around 487 level with SLTP around 500.