Icici
IS It right opportunity to buy ICICI BAnk !ICICI bank is following a parallel channel. Today It took support exactly at the lower channel on the hourly chart. So I think we should go long with ICICI bank.
Please LIKE, SHARE & COMMENT IF YOU LIKE MY ANALYSIS.
Thank you.
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
ICICI BANK KEY LEVELS SUPPORT AND RESISTANCE 13/04/2020Key Levels for ICICIBANK :
Upper Breakout~346.90
First Target~352.70
Interim Resistance~358.85
Final Resistance~363.90
**Lower Levels**
Lower Breakout~339.20
First Target~334.60
Interim Support~329.55
Final Support~325.30
Please trade with caution and consult your financial adviser before trading.
ICICI Bank Divergence: Reversal or just a halt?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 exhaution in momentum.
In the 75 min again, we see a nice wide NCD. Once the TL is broken and price makes a LL, one can look to enter short Intraday provided an opportunity arrives in the 15 min TF for a quick and small move.