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ICICIBANK

All eyes on ICICI Bank at 960 - Sell or Buy more?Having a plan of action before a stock you hold comes to a crucial point is essential. You have 3 decisions to make in ICICI Bank as it comes to LTH. All eyes will be on 960. I hope these rules help There are sellers at 960 - if the stock moves there slowly it will get hit back - possibly all the way back to 940 Just like happened in ITC - we need to clear the Life time high with force - maybe on an EOD basis on high volumes. At that point sellers could turn into buyers , clearing the way to 1000 Also highlights the importance of doing the fundamental work before hand - the results gave enough time to buyers to get in Setting alerts on TV is essential to avoid "reaction based trading" - set alerts and only take actions once they are triggered. Hope this helps - all comments and criticisms are welcome
NSE:JINDALSTEL
by kunal_finner
4
BankNifty RSI Bearish DivergenceObserving the BankNifty price chart, we can see that the price is making higher highs while the RSI is making lower highs, indicating a clear sign of RSI bearish divergence. Entry: To capitalise on this bearish signal, we can consider going short once the close of a strong bearish candle is below the weak support level marked on the chart. Stoploss: To manage our risk, we can place a stoploss above the weak support level. Target: Our profit target can be set near the next strong support zone marked on the chart. If you find this analysis helpful, please consider liking and following me for more insights and trading ideas. Thank you.
NSE:BANKNIFTYLong
by vt_trader
2
Capitalizing on Relative Weakness: Short ICICIBANK Long Nifty 50Introduction: In the dynamic world of trading, identifying relative strengths and weaknesses among stocks and indices is crucial for maximizing profits. This idea focuses on the underperformance of ICICIBANK compared to the Nifty 50 index. By analyzing the daily charts and employing a ratio chart, we can spot a potential opportunity for a pair trade. This write-up aims to provide an analysis of ICICIBANK's current trend, its ratio to Nifty 50, and how traders can profit from this relative weakness. Section 1: Understanding the Ratio Chart To gain further insights into ICICIBANK's relative performance, let's examine the ICICIBANK/Nifty 50 ratio chart. This ratio chart compares the price performance of ICICIBANK to that of the Nifty 50 index. By analyzing this chart, we can assess ICICIBANK's strength or weakness relative to the broader market. The ratio chart reveals a broadening wedge pattern breakdown. This breakdown suggests a bearish outlook for ICICIBANK, indicating a potential continuation of its underperformance against Nifty 50. Additionally, the ratio has been consistently trending within a downtrend channel, emphasizing ICICIBANK's persistent weakness compared to the broader market. Section 2: Pair Trade Strategy Based on the technical analysis of ICICIBANK and the ICICIBANK/Nifty 50 ratio, a pair trade strategy can be implemented to capitalize on ICICIBANK's relative weakness. The pair trade strategy involves simultaneously shorting ICICIBANK and going long on Nifty 50. By shorting ICICIBANK, traders can profit from its anticipated further decline, while being long on Nifty 50 allows them to participate in the potential upside of the broader market. It is crucial to effectively manage risk when implementing this pair trade strategy. Setting appropriate stop-loss levels based on ICICIBANK's volatility and the overall market conditions is essential. Additionally, continuous monitoring of the ICICIBANK/Nifty 50 ratio is necessary to assess any changes in relative performance and adjust positions accordingly. Conclusion: The current technical analysis of ICICIBANK, along with its ratio to Nifty 50, suggests a bearish outlook for the stock. Traders can consider implementing a pair trade strategy by shorting ICICIBANK and going long on Nifty 50, capitalizing on the relative weakness of ICICIBANK compared to the broader market. One has to closely track the above ratio chart for the stop and target level for the pair trade
NSE:ICICIBANKShort
by T_Harth
If U want to trade right see leftIt is often said - "History does not repeat, it rhymes" Price is making a rising wedge pattern similar to the earlier one (on the left side). It has also reached the previous resistance. Q - > Will the next move be similar ? A - > Not sure right now, but indications of being extra cautious are popping up as the days go by Indications - 1. The steepness of the rising trendline support - such steep trendlines do not hold for a longer time and normally the support give away 2. Price has developed Bearish divergence with the momentum indicator right at the resistance level So, at least as a trader we need to keep ourselves close to the exit door. Happy Trading !
NSE:ICICIBANK
by riskOmeter
2
PostMortem on BankNifty Today & Analysis of 24 APR 2023By 09.15 around 90% of traders would have guessed how NSE:BANKNIFTY is going to trade today. Thats because NSE:ICICIBANK had an excellent quarterly results to boast for. The predictability of banknifty is, one leading bank is enough to pull up the sentiment of others. Same on the downside as well. Opening was gap up at 42469, and it took a while before it started climbing to the resistance zone. Till 12.40 there was no directional bias - banknifty was maintaining the opening gap and not yielding ground. There was no attempt to close the gap too, meanwhile NSE:NIFTY went to slightly negative zone. Just compare the price action of banknifty vs nifty50, banks did not show any weakness at all whereas nifty50 was unable to maintain the gap. --- From 12.40 banknifty took-off breaking the resistance of 42576 very easily, It just required a small upmove of 287pts to get rid of this important resistance. There was also a test of support at 14.35 to 15.05 - but the momentum was too strong and bank nifty held its ground. I am starting to wonder how are these banks able to provide this stellar results? How are Indian firms able to outperform the global peers so efficiently and effortlessly? Unbelievable. The global banking fear of Silvergate, SVB, Credit Suisse has not lifted a finger in India. Not even a glitch! --- 15mts TF get a new bullish tone after today's move and the resistance getting broker. This temporarily gives the bull the edge from the rangebound trade we had till 21st Apr. --- 1hr chart is scaling new heights, with the next resistance seen at 43012. You would have noticed banknifty usually uses gaps to move the distance from 2022 onwards. Only rarely we see banknifty making huge moves during the day. This has cooled off the options premium again, I shorted few PUT options today very well knowing that they are already near the fair value. I was not surprised to end the day in losses as there was no further decay left in the options I traded. Literally pointing that option-selling is getting very unattractive at low volatility levels.
NSE:BANKNIFTY
by viswaram
ICICI TO HIT 900 ZONENSE:ICICIBANK icicibank iscurrently is showing bullish trend in on major time frames and is very likely to hit 907/915 zone if it breaks and sustains above 882 on 15/30 min time frame with candle close and opening above 882, if we get a new candle open and close above 882 and current resistance of 884/890 is broken in 1 swif move with bullish candle on 15/30 mons, then the resistance will start acting as support and push icicibank above to the 900 zone . current support for icicibank is till 865 and if thats breached then next support will be 850/840 range zone.
NSE:ICICIBANKLong
by ajinkyadiwakar717
ICICIBANK - Ichimoku Bullish Breakout Stock Name - Icici Bank Limited Ichimoku Cloud Setup : 1). Today's close is above the Conversion Line 2). Future Kumo is Turning Bullish 3). Chikou span is slanting upwards All these parameters are showing bullishness at Current Market Price and more bullishness AFTER crossing 892 #This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market. # Cloud Trading # Ichimoku Cloud # Ichimoku Followers I hope you all like my analysis. Please do share your thoughts into comment section. Please give a like, share & subscribe for daily analysis.
NSE:ICICIBANKLong
by nikunjbhadja