ICICI - Limited upside left, Downtrend about to start Limited upside left, Downtrend about to start, SHORT with SL 326 for the target 300
Icici
ICICI Bank - Long ICICI Bank bullish on bearish trend so make a small trade....
Trade
Buy above - 277.95
Target - 279.55
SL - 276.95
Short Near 308-315 Stop Loss 325 Target 265Short Near 308-315 Stop Loss 325 Target 265. then Buy Near 260-265 With Stop Loss 245 For Target 300.
Buy or Short at only levels.....
ICICI BANKThe information is for educational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security which may be referenced by me. The information provided through my charts are for personal, non-commercial, educational use and display.
Republic Day Idea - Short TermHappy Republic Day,
fellow Indians.
Here, I am sharing a good potential setup for ICICIBANK.
it's in an ascending channel, which you can see in the chart in related ideas.
The lines I have drawn have significance from previous levels.
I have marked prices accordingly.
Hughe volume also see in the last few hours increasing the probability of upmove.
So,
take positions in ICICI and see how it unfolds.
The entry can be taken according to your strategy, but you must exit at the given levels.
Thanks.
Have a good day.
ICICI, Go LongICICI bank has been trading in a rising channel and now near lower band of channel and should take support at lower band of this channel, hence generating a buy call in it with sl just below the support line as shown in the chart with expected gain of around 20% in next 30-45 days.
ICICI BANK A Strong Reason to ShortICICI Bank closed at the top of trend line.It also a double top.Last time its down trend started from here touched to Rs.180 from where the trend reversed.
The bank’s gross non-performing assets (NPAs) more than doubled to Rs32,178.60 crore in the three months ended 30 September from Rs15,857 crore a year ago. Gross NPAs made up 6.82% of the bank’s loan book, compared to 5.87% in the previous quarter and 3.77% in the year-ago quarter.Net profit growth to an anemic 2.37%.
Banknifty Elliott Wave analysis points to a topI have marked the waves in the chart and here I will explain them a little more in detail.
Wave 2 is a deep correction of wave 1 and retraces 76.4% of the wave 1.
Wave 3 is a 161.8% extension of the wave 1 and is composed of five inner waves, though I have not marked them on the chart to avoid too much confusion.
Wave 4 is a 38.2% correction of wave 2. Again according to the principle of alternation the wave 4 should have corrected to a lesser degree than wave 2, wave 2 was a 76.4% correction so we would have been expecting a 23.6% correction or a 38.2% correction. We got a 38.2% correction.
The wave 5 is 138.2% extension of the total move from starting of the wave 1 to the top of wave 3. Another Fibonacci principle that was respected.
Thus there is a good chance that we could get a pretty good correction here. We can at least expect a 23.6% correction of the total move in this impulse, in the charts that can be seen at 19606. Thats the first level that we could get in this corrective wave. I think the correction could be a little deeper than that. Post that we should turn around up and look for targets of 22,000. That of-course is for another time.
