ICICI BANK is now Downtrend, moving towards support. It is higher low formation. Still it's Bearish control check with Fibonacci level. Refer next move mentioned in daily chart . Its good for swing traders.
ICICI Bank
Observations
- The stock is near Line of resistance
- minor support around 756 -757
- gap support around 702-720 odd levels
- major support around 680 odd levels
Given the set up, one may consider to sell 28 July expiry 780 Call Option currently around 10.5
The strategy has a yield potential of 7.5% approximately and covers risk for a rise in...
ICICI Bank
On daily chart form double bottom pattern exact at its strong support
Also is about to break its 10 month old trendline, at its resistance level
Safe buy above resistance zone 778/800 levels
For short term targets of 798 to 805 levels
Keep Trailing SL and also its good to partial booking 1-2% profits
In case of gap up and gap down avoid setup....
ICICI bank has created a beautiful triangle and while it broke down for a few days, it has reclaimed the triangle formation and looks set to give a positive breakout. Keep this stock on your radar and expect a new all time high. I do believe that bank nifty and other big private banks should move soon and give good returns.
Currently, SMA 20/50/100/150/200 days - all are withIn 3% range
Trend: Monthly is +ve already and Weekly is Changed to +ve
Close crossed Weekly and Monthly Pivots Upside
Today closed with a strong Marubozu candle.
Close is above 20 SMA on Daily, Weekly, and Monthly time frames.
Above 734 next 764, 776 and then strong upside move possible.
Go Long if ICICI BANK 420 CE for July month Expiry if it is sustaining above sustaining above Sustain 720 in 1 hour chart.
Risk Reward Ratio is good in this Trade Setup
I marked all details in the chart.
Rationale
1. One of the highest weight in Bank nifty. I expect bank nifty to perform better than Nifty
2. W Pattern is in making. White line marked is a strong resistance breaking up of that would lead to quick move.
3. SL is based on Fibo
Points to Note.
1. Keep tight SL of 735 DCB.
2. High risk and reward trade.
ICICIBANK (24 June)
RSI- 50
9 days consolidation breakout
Gap up opening above 20 day EMA
Short term
Buy at CMP- 709
SL- 698
Target- 718, 726
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Charts and views are only for educational purpose.
ICICI Bank this is chart pattern chart pattern and discharge showing that double bottom pattern and rising wave this chart and showing their stop loss and t1 t2 that is next day if the market on off Trend social for day trading.
On the weekly timeframe the stock is trading near previous weekly support zone.
As long as 670 is holding we can see an up move till 750
Closing below 660 will trigger some correction and that will drag the stock till 600.
Stock in Sideways Trend.
Bears can try to push prices lower from Resistance Area 770-730.
Bulls can come into play towards 680-640 Levels for Value Buying
1 hr time frame
Double Top
Triple Bottom
M pattern
Price taking hault @ neckline
No Trading zone
744 - 740
Conditions applied:
If 740 taken out then we can sort till 722 achieved.
If price reverse then wait until previous candle high was not taken out.
Note: Trailing SL / Volume & OI to be watched closely before taking any positions.
