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ICICIBANK

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
Was this a staged Closing of the Indices?NIFTY 50 EOD ANALYSIS -29-09-21 IN SUMMARY OHLC 17,657.95 17,781.75 17,608.15 17,711.30 Close = -37.3 / -0.21% H-L = 174 points VIX 18.84 / +1.61% FII DII: Data not available - likely to be negative. SGX NIFTY @1950h - 17683 / -23 points Likely open: Please read Insights at the end of the post. CHART BASED CONCLUSIONS - 15 M Chart A strong gap-down of 90 points and then there was the usual bounce back to test the opening high and then a sell-off which threatened to go and breach 17600 levels but then came some active buying which resulted in the index recovering in a somewhat choppy way. It was only after 1300h that the index rallied and crossed 17750 and then came another sell-off which brought it below 17700 and then in a dramatic manner it was closed above 17700. The trading range was down by half than that of yesterday. NIFTY made a lower high, but a higher low and traded within the peak of yesterday’s close and yesterday’s lows. This is a consolidation before the monthly expiry. NIFTY WEIGHT LIFTERS & DRAGGERS NIFTY LIFTERS NIFTY DRAGGERS SBI 18.00 HDFC 31.00 JSW STEEL 13.00 HDFC BANK 27.00 IOC 12.00 RELIANCE 21.00 POWERGRID 10.00 ICICI BANK 16.00 SUN PHARMA 10.00 KOTAK BANK 11.00 63.00 106.00 Lifter - Draggers = -43 POSITIVES NIFTY managed to close above 17700. NIFTY did not breach 17600 despite selling pressure and a retest attempt on the downside was made on multiple occasions. NEGATIVES When all the heavyweights go against the upward trend, there is going to be negativity and that is what spooked the indices. All key drivers were not in the mood to rise today and profit booking and or sell-off seems to have taken place ahead of expiry. VIX keeps rising indicating more wild moves. TRADING RANGE FOR THE REMAINDER OF THE WEEK: This remains as it is -- NIFTY 17500-18100 BANK NIFTY 37200-38500-800. INSIGHTS / OBSERVATIONS As NIFTY was approaching its P Close at 17748, 17600 CE in which I was trading, also approached its P Close at 180. This is a rare coincidence that I have seen. Usually, Options tend to decay even during the day and here, 17600 CE remained intact despite a choppy AM session where the Index attempted to retest 17600 levels a couple of times and then showed weakness until about 1300h. However, on a closing basis, there is some variation in the NIFTY and the ITM CE deviation from the P Close. THis may be on account of the weighted average close. In my view, today’s close was staged as NIFTY topped out just around the closing highs of yesterday and from there it sold off to ensure that it ends below the P Close but above 17700. Despite FTSE up by 60 points, NIFTY ended in the red. This is surprising. Though FTSE and NIFTY cannot be compared but NIFTY should have ideally followed the cue and closed positive, but instead, it ended red and at 1925h, the SGX is showing -73 even when the US markets are in the green. Clearly, there is something that is beyond the ordinary eyes to see - i am carrying forward 17600 CE keeping global cues in mind and I could be completely wrong here but I going by what I believe is a mismatch. What do you feel about this? Thank you, and Happy Money Making! Umesh 29-09-21 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:NIFTYLong
by AVENUESOFINVESTMENT