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.
1.Daily and Weekly Trend is Up
2.Price is coming to fill the gap area
3.50% fibbo at 420 Levels
4.horizontal support at 418 levels.
5.Risk Reward is 1:4
Buy at 422 Stoploss 414 Target 450-460
Timeframe 15-20 days
Key Levels for ICICIBANK are :
TREND CHANGE ZONE~419<>422
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