Get started

ICICIBANK

BANK NIFTY AT A SUPPLY ZONE. DEPENDS ON THE RESULTS.Bank nifty is near its swing high, it may take a correction or take out the supply zone with the short covering moves. Here we analyze the PSU bank index, Private bank index, and ICICI bank to see what could be the scenario on Monday. Today, we have ICICI bank's results which decide the Bank Nifty's run. In the above image of the PSU bank index, we can see that the breakout has yet to happen. The breakout point is B. The supply zone is also 5% away from the breakout point. Anyways, the PSU bank index won't be of much help as PVT bank contribution in Bank Nifty is nearly 87% and SBI alone from the PSU bank sector contributes nearly 12.5% Out Private bank sector, ICICI is the second-highest contributor with nearly 21%. It is important for us to know where the PVT bank sector index and ICICI bank are standing right now. In the above image of PVT bank index, we can see it is almost at the supply zone. It is very critical to have good results or else shorts could enter here. Here's the ICICI bank index, it is trading above the monthly crab pattern's terminal price. Here it could be dangerous either for the longs or shorts. A rapid movement could come in any direction. ICICI results could play an important on Monday but there would be other private banks that could cover the loss by reaching the expectations in case ICICI fails. This is just my analysis and for educational purposes.
NSE:BANKNIFTY
by Sanjan91
Yet again Bank Nifty rescues Nifty from free fallNIFTY 50 EOD ANALYSIS 22-10-21 In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 18230.70 H 18314.25 L 18034.25 C 18114.90 EOD - -63.20 points /-0.35% India VIX = 17.55 / -2.71% SGX Nifty 22-10-21 EOD = Flat FII DII = -1668 Corres CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty yet again underperformed and made a lower high and a lower low. Nifty is now too close to testing and or breaching 18000 line which is a big psycho level, especially on an EOD basis. Nifty on daily charts is well placed for a bounce-back as long as the recent lows are held and it keeps trading above 18100. On the weekly charts, Nifty is still bullish from a positional viewpoint. So no need to panic for the investors. All that it is doing is giving an opportunity to enter some scrips. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 30 Top 5 Draggers contributed = 51 Net = -21 POSITIVES Bank Nifty has been the single source of strength for Nifty for now. It has been able to do so as HDFC Bank, Kotak Bank, ICICI Bank and SBIN have been doing well. Ahead of its results, Reliance was a bit nervous and that is obvious. NEGATIVES Renewed negativity in Infosys is quite unnerving as it made TCS breach 3500 level as well. Now it is down 12.5% from its ATH hit in this very month! ITC has undone all the good gains that it had made. Clearly, this scrip is losing its shine. Tata Motors is having cruise control issues so it is better to be careful. TRADING RANGE FOR 25 October 2021 Nifty made sustained efforts to keep falling and it came close to 18000 make or break line. So 18000-18050 is now the new line of defense and 18200-250-300 and above are the lines of resistance Bank Nifty supports at 39000-39200 and no idea about the resistance levels as it has ended above 40000 for the day.. INSIGHTS / OBSERVATIONS Reliance did not go up as well which is unusual as it has happened in the case of TCS, HDFC Bank, and Infosys. Interesting price action on 25-10-21 in store. ICICI Bank will also react to its good results - does it break the trend of failing to hold the gap up the opening or it simply follows TCS. Wait and watch! Nifty 18000 is a crucial line and all eyes would be on the same. Generally, the tendency is to break such levels when there is optimism and then bounce back. I just read a headline stating 10-15% correction is in store if it breaks 17900. So those of us who are interested in understanding the psychology of the crowds and the traders, in particular, are likely to have a nice week full of learnings. Would we be able to earn while we learn? Well, that is the question whose answer is with each of the traders out there. ITC appears to be losing its shine and is becoming a traders’ stock as it has got itself engaged in to wild swings. What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 24-10-21 NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
ICICI BANK MAY HAVE A CORRECTION. RISING WEDGE PATTERNICICI bank's price has been forming a rising wedge pattern which has got broken today. According to the height of the pole and XABCD bullish shark pattern, the target is set at 647. The trade setup is to buy ICICI when it reaches 647 or short if there's a pullback to confirm the fall. The stoploss here is to place at C according to both the patterns, which is not a good risk-reward ratio. So, try to buy when the price falls to 647. Happy trading :) This is just for educational purposes.
NSE:ICICIBANK
by Sanjan91
Ascending triangle in ICICI Bank Ascending triangle & double top breakdown and resistance . what is Ascending triangle? An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. will it retest the support ?? if yes. then we can enter when it fails to break. entry level is 721, 720 or 719 stop lose is 716 or 715 below 712 it does not look good max target 740rs according to ascending triangle 735 is the best target according to me.
NSE:ICICIBANKShort
by DeepakGB
Energy Crisis takes the Force out of Nifty - slips below 17600NIFTY 50 EOD ANALYSIS -06-10-21 Apology:-- Yesterday’s post had incorrectly mentioned that Nifty hits a new ATH and closed at a new ATH. This had occurred due to some issues with the device and the doc file got corrupted. I am thankful to those who pointed out the error and still liked the contents. In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 17861.50 H 17884.60 L 17613.15 C 17646.00 EOD -176.3 points / -0.97% SGX Nifty @ 1850h 17655 / +25 points CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a mild gap-up and hit the day’s high around the resistance below 17900 and then broke the P Close. It bounced back from there and retested the high area and then soon after FTSE opened in the strong negative, the sell-off began. There was some recovery from the support line of 17710-15 which was sold in to twice and then Nifty drifted towards 17600. The ended at 17646 which was almost 1% down from the P Close. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 26 Top 5 Draggers contributed = 74 Net = -48 POSITIVES Hdfc twins ended in the green and saved the Indices from sliding further and stopped them from creating more panic. NEGATIVES It is very easy - except for the positive, it is all negative. VIX shot up 5%+. FII-DIIs are net sellers for 1800 Crores. TRADING RANGE FOR 6-10-21 Nifty 17600-650 was put to litmus test and tomorrow being weekly expiry, I am placing another lower-level support at 17550. Resistance regrettably are at every nook and corner of the charts. Bank Nifty Support = 37200-400 was well respected but in view of the weekly expiry, a lower level support of 37000-37200 is also added. Resistance 37800-38000-38200. INSIGHTS / OBSERVATIONS I now need to learn how to read and trade FTSE as Nifty is doing only that. After 1230h for now and from Oct end, from 1330h, Nifty would follow FTSE only. I am wondering if we should list the FTSE-IN index on NSE for AM trading! I know global cues and crisis have some impact on our markets, but what I am unable to gather is in what way would it impact our market to an extent that scrips start falling like a pack of cards! Look at how Reliance and ICICI Bank have fallen from their day high levels! What do you feel about this? Thank you, and Happy Money Making! Umesh 6-10-21 NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
And at last, Nifty ends the day above 17800!NIFTY 50 EOD ANALYSIS -05-10-21 In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 17661.35 H 17833.45 L 17640.90 C 17822.30 EOD +131.05 points / +0.74% CHART BASED CONCLUSIONS using 5 Minutes Chart And finally, Nifty ended the day above 17800, registered a new ATH as well as a new ATH close. Nifty opened mildly gap-down and went into consolidation until FTSE opened and when it was trading in the green, Nifty started seeing traction and the resistance around 17715 was broken with a big candle on a 5-minute chart. And then there was no stopping Nifty as it scaled newer heights with ease. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 72 Top 5 Draggers contributed = 17 POSITIVES Nifty made a new ATH and also closed at a new ATH. Reliance ended above 2600 which is another ATH for the scrip and one of the main drivers for the rally in Nifty. Bank Nifty was showing signs of weakness in the AM session but the PM session saw Bank Nifty recovering in a smart manner. India VIX fell again indicating a lower probability of a big and wild swing. Hdfc twins ended in the green though they moved in a narrow range. NEGATIVES Icici Bank and Kotak Bank were responsible for not letting Bank Nifty freely. Bank Nifty underperformed to Nifty due to the above. Infosys could not close above 1700 and as long as it trades below the level, it has the tendency to drift towards 1660 which is likely to put pressure on Nifty. TRADING RANGE FOR 6-10-21 Nifty 17600-650 is now the new support line and resistances would be at 17850-900-950. Bank Nifty Support = 37200-400 Resistance 37800-38000-38200. INSIGHTS / OBSERVATIONS Why do we feel happy whenever an index or a scrip hits a new ATH and or ends at a new ATH? It is the positivity factor - it releases a great deal of positivity which is required by traders/investors who have put in their hard-earned money in the markets either to make a living out of it and or to create wealth. Bank Nifty was not in its elements - this is the key for any further upside in Nifty. If it plays the catch-up game, Nifty may be able to hit 18000 during this week itself. Such is the power of Bank Nifty! What do you feel about this? Thank you, and Happy Money Making! Umesh 5-10-21 NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right. ---
NSE:RELIANCELong
by AVENUESOFINVESTMENT
1
FY21-22 Swing Trade Idea #155: Long on ICICIBANK This is a public swing trade idea (other private ideas accessible through website) and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
NSE:ICICIBANKLong
by onerighttrade
2