Get started

ICICIBANK

Nifty comes under pressure and closes at 16450NIFTY 50 EOD ANALYSIS -20-08-21 IN SUMMARY O / H / L / C 16382.5 / 16509.55 / 16376.05 / 16450.5 H-L = 133 VIX 14.02 / +8.6% FII DII: -2178 Crores Likely open: Negative to flat CHART BASED CONCLUSIONS A 200+ point gap-down opening in Nifty shook all the scrips. Nifty made a significantly lower high and a significantly lower low. It then moved in a narrow range of 100+ points witnessing high volatility and choppy movements. On daily charts, it appears to have been brutally thrown away from the top though it has made a good recovery from the lows. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters HUL 23 BAJAJ FINANCE 15 NESTLE 13 ASIAN PAINTS 11 BRITANNIA 09 TOTAL 71 The Draggers JSW STEEL 27 TATA STEEL 21 RELIANCE 18 ICICI BANK 11 SBI 11 TOTAL 88 Lifter - Draggers = -17 The selling appears to be quite intense and that explains the negative closing for the week. POSITIVES The sleeping giant HUL woke up and stood firm and helped steady Nifty. HDFC ended in the green despite extreme selling pressure. BANK NIFTY managed to end above 35000 make or break level. NEGATIVES Nifty failed to close above 16500 and a major barrier for the bulls has been lost for now. BANK NIFTY fought an intense battle to stay above 35000 and it was hard to for it to even cross 35100 as it was pushed down severely from that area. FIIs have sold heavily. VIX is up almost 9%! TRADING RANGE FOR W/B 23-8-21 The Nifty baseline moves down to 16300-350. The resistances are now from 16500 onwards. BANK NIFTY support base also slides to 34800-35000 and resistance at 35200-35500. INSIGHT / OBSERVATIONS FIIs have sold heavily so some more negativity on the cards. HUL rose sharply and BRITANNIA also did well but ITC did not move much. So there is something in HUL and BRITANNIA that is not applicable to ITC. BANK NIFTY was struggling hard to cross 35100 and the impact was direct on Nifty. The moves remind me of the slow and choppy moves that we had seen during the last year after the COVID triggered the crash. Is this a Buy on Dips market? If one remains stock-specific then yes, it is so - at least for support to resistance-based trades. What do you feel? Thank you, and Happy Money Making! Umesh 20-8-21 P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. 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
1
Nifty under severe pressure at ATH - Caution Ahead!NIFTY 50 EOD ANALYSIS -18-08-21 IN SUMMARY O / H / L / C 16691.95 / 16701.85 / 16535.85 / 16568.85 H-L = 166 VIX 12.91 / -3.72% FII DII: -1325 Crores Likely open: Negative to flat CHART BASED CONCLUSIONS Nifty touched 15701 for the first time and made yet another high. Nifty made a higher high and a higher low. The Nifty failed to hold on to the higher levels and was sold off after an hour from the morning and kept falling till the last one hour when there was a mild recovery. The fall was consistent indicating selling pressure around 16700. On daily charts, the candle looks bearish but with low volumes. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters BAJAJ FINANCE 55 BAJAJ FINSERV 29 RELIANCE 20 ADANI PORTS 17 ULTRATECH 15 TOTAL 136 The Draggers ICICI BANK 61 HDFC 34 KOTAK BANK 24 INFOSYS 20 SBI LIFE 15 TOTAL 154 Lifter - Draggers = -18 The selling appears to be quite intense and the heavyweights from key sectors have joined in to drag the indices down. POSITIVES Nifty made yet another ATH. HDFC BANK held on to 1500+ levels despite BANK NIFTY being under severe pressure. RELIANCE ended in the green even though it was modest. The fact that it did not join the sell-off is a big positive. NEGATIVES Key constituents of Nifty contributed significantly on the downside than what they have in the recent past on the up side. FIIs and DIIs have both turned net sellers. BANK NIFTY broke 35600 level and was down 800 points intraday. TRADING RANGE FOR 20-8-21 Nifty baseline moves down to 16450-500. BANK NIFTY support base also slides to 35000-400 and resistance at 36200-36500. INSIGHT / OBSERVATIONS There was clearly something that was not visible to the naked eyes that is known to the FIIs-DIIs as the selling was consistent in Nifty and BANK NIFTY was even worse. As of 1255h on 19-8-21, SGX Nifty is down 290 points! There is something that has happened globally as well - if the US also trades in the negative, we may see a bloodbath tomorrow and the trend for the short term may change. What do you feel? Thank you, and Happy Money Making! Umesh 18-8-21 P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. 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
Simple Trade Setup | ICICIBANK | 18-08-2021NSE:ICICIBANK Observations: 1) On Daily Time frame it has taken support from 692 range which is critical level. As it was working as resistance before. 2) On Daily Time Frame it is trading above 21DMA and 50DMA. 21DMA is above 50DMA. Please refer Chart below: daily time frame. 3) On 1hour time frame it has formed double bottom pattern. And also took support from 692 level and Trendline -1. 705 level look critical to watch out. Please refer chart below: 1 hour time frame. Trade Setup for Date 18-08-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and target w.r.t price action working near that level tomorrow. Hope I made it easy to understand it. My personal view is bullish in it. Do comment your doubt or suggestion.
NSE:ICICIBANK
by Trading_hawk
3
BANKNIFTY IMPORTARNT LEVELS FOR 12/08/21(POC) if on 12th aug 2021 market opens in a positive(ABOVE POC) then taking the conformation of bullish trend by candlestick we can see a easy rally towards 35959 AND 36252. if market opens on a flat note avoid taking trade if market opens in bearish side seeing bearish conformation we can see our target #1 35858 and #2 35758 Disclaimer :- Trading is very risky please analyze the stock by your own and take the trade on your risk. Levels which are provided above are just for a simple idea about the stock and for educational purpose.
NSE:BANKNIFTY1!
by ABHI_71001
ICICI Bank- Taking flightICICI Bank has broken into unchartered territory with attaining an ATH. I have also plotted the Fib retracement for the fall in March 2020 and the chart pattern has played out the Support n Resistance levels at the the key levels of Fib retracement. Now the chart has also broken the 1.618 level mark and expect it to continue its upward journey to the next level of 2.618 which shall be somewhere close to 981. There is an immediate support zone at 670-680 levels which was the immediate resistance which was broken recently. The vol. profile levels from 1 to 1.618 show a strong value zone at 625-630 levels which shall act as the medium term support. Guys let me know if you can value add further on this analysis. Let me also know if I am going wrong in the analysis.
NSE:ICICIBANKLong
by CA_MANISH
Bank Nifty weightlifts Nifty Past 16250NIFTY 50 EOD ANALYSIS -04-08-21 IN SUMMARY Open / High / Low / Close 16195.25 / 16290.25 / 16176.15 / 16258.8 Trading Range Low to High: 114 points Likely Max Realistic Opportunity @ 50%: 57 points India VIX: 13. / --3.93% FII DII activities: +2417 Crores CHART BASED CONCLUSIONS Nifty made yet another gap-up opening and yet another ATH close. It faced the first resistance below 16300 so for tomorrow’s expiry, this level may act as the resistance as well. Nifty movement appears choppy on the 5-minute chart as kept moving up and down after 1100h. Tomorrow’s expiry may decide the next course of action for Nifty - above 16300 or yet another series of range-bound moves. TOP 3 LOSERS GRASIM - Earlier ATH level resistance was faced and the candle slipped below its 20 DMA and could barely close above the line. Interestingly, the 20, as well as 50 DMA lines, are moving very close to the Priceline. TITAN - Profit booking at higher levels may have brought this down though the volume is low and the daily RSI is still bullish. TATA MOTORS - After a gap-up open above the 20 DMA line, it failed to hold on to the selling pressure and closed below the line and below 300 as well. Wait and watch for now as even MARUTI was down today. TOP 3 GAINERS HDFC - The giant roared again and in a royal style. In 6 sessions, the scrip is up 11.5% and has single-handedly managed to lift Nifty from out of the non-Bank Nifty heavyweights. It is now approaching 2700 resistance and if it clears that, 2740-50 may be on the cards. KOTAK BANK - Picking up from where it left yesterday, it kept the pressure on the Bank Nifty front along with the elder cousin HDFCBANK and by EOD, it managed to cross the 50 DMA line as well. There are a few resistances around this so we have to see if it can retain the good momentum with strong volume and march ahead. ICICIBANK - Another Banking heavyweight that roared and helped Bank Nifty outperform. It also closed at a new ATH and crossed 700 as well for the first time with good volume. POSITIVES HDFC twins getting back in traction along with KOTAK BANK is a big plus as these are the counters that were dragging or not letting Nifty and Bank Nifty move higher. Bank Nifty now has only 2-3 resistances to clear before hitting ATH. The volumes are good and so is the RSI on the daily chart. With RBI policy on 06-08, we have to see if it can close the week at a new ATH - though it is a very tall order considering that tomorrow is the expiry. FIIs have bought in excess of 2500 Crores is a big positive so some more upside is in store. NEGATIVES IT and Auto scrips came under pressure and the heavyweights have ended in the negative. RELIANCE has closed above 2100 but was choppy and somewhat reluctant to move up. It has the potential to be a spoilsport when all is well. TRADING RANGE FOR 05-08-21 As of now, the indices are on the run so I prefer to wait for them to settle down for the week before working on any levels as from hereon till some time, heavyweights could decide which way and how far the indices could be move. INSIGHT / OBSERVATIONS For the first time OHLC for Nifty is above 16000 so it would now act as a good support and a psycho barrier for bears as and when they choose to bring the index down. Bank Nifty clearly out-performed Nifty and it may now happen that Bank Nifty may scale its ATH and then only some new set of actions could take place. Though HDFCBANK is not in the top gainers, it has managed to cross the 200 DMA in style and has met with a resistance at 20 DMA. The momentum is picking up and the volume is good so we have to see by when it manages to cross the line and then the 1500 mark which would also take it above the 50 DMA. Thank you, and Happy Money Making! Umesh 4-8-21 P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. 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