ICICIBANK
ICICIBANK Shows Strong MomentumICICIBANK Shows Strong Momentum
Being in rangebound if breaks and stays above 490
Resistance levels will be around 501-515
Support around 473-460
.
...
If you like, just hit the thumbs-up button
or comment and share.
.
Updated on : 11-NOV-2020 8.10pm
Disclaimer: Only for learning purposes.
ICICI Bank Trade Plan for 05 NovemberAs expected in Trading plan for 4th november, ICICI bank took support at 427 level. One could have taken long at 433 and added extra at 427 level. ICICI bank closed at 437. below are the trade plans for 5th November.
1. Positional long should be carried with SL of 425 with target of 455/468. Wait for dip towards 433 level and go long with SL of 425.
2. Any dip towards 433/427 is buy with SL of 425 for target open or same as positional long target for intraday.
3. Shorts should only be initiated only if 425 is broken with SL of 428 for target of 419.
ICICI Bank Trade Plan for 04 NovemberFinally on 3rd November, ICICI bank gave breakout on upside after breaking 427 level and huge volume. One could have taken long after first 30 min candle itself. Now this 427 level should act as good support. Below are trade plans for 4th November.
1. Positional long should be carried with SL of 425 with target of 455/468. Wait for dip towards 433 level and go long with SL of 425.
2. Shorts should only be initiated only if 425 is broken with SL of 428 for target of 419. This is very unlikely as breakout is with heavy volume.
Tomorrow is US election day. Anything can happen. Go with less position size.
Intraday / Swing Setup: Looks really good above 425 with confirmIntraday / Swing Setup: Looks really good above 425 with confirmation on 15 mins for intraday and 1 hours confirmation for Swing trade. SL for intraday should be 420 and for swing 413. Target are 40/460/480+. Script showing good momentum now.
Note: I am not a SEBI register and view is only for educational purpose as well as personal, always consult your financial advisor before investing or trading.