Get started

ICICIBANK

ICICIBANK: On a Bullish Trend Technical Analysis of: NSE:ICICIBANK The Elliott waves Cycle Oscillator is indicating a detection of an impulsive (ascend) wave. The Elliot wave is showing an IMPULSIVE movement, showing an UPTREND . From 653.50. The waves 1, 2, 3 and 4 is completed at 653.50, 545.80, 664.60 and 620.30 respectively. From the point 620.30 wave 5 is starting and projection range for wave 5 is in between 654.57 and 665.00 Seeing a Bullish trend further ahead, the RECOMMENDATION is to BUY . Disclaimer: The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis
NSE:ICICIBANK
by finogent
Reliance, ITC, & ICICI Bank to decide Nifty levels for 26-7-21NIFTY 50 EOD ANALYSIS -23-07-21 IN SUMMARY Open / High / Low / Close 15856.05 / 15899.8 / 15768.4 / 15856.05 Trading Range Low to High: 132 points Likely Max Realistic Opportunity @ 50%: 66 points India VIX: 11.76 / -1.09% FII DII activities: +2,000 Crores NIFTY 50 EOD 23-07-21 DAILY CHART CHART BASED CONCLUSIONS Nifty Open = Close signals an indecisive close and that is understandable considering the fact that RELIANCE results due after market on 23-7 and ICICI BANK on 24-7. Open = Close has been happening often which is not good as the index then does not make much progress on a closing basis especially when it is a weekly close. Nifty fell sharply and suddenly in the first hour after a gap-up open and retested the PM low of 22-7. Though Nifty has made a higher high and a higher low compared to 22-7, the gap leading to 15632 is worrying as all heavyweights have so far fallen after their results. TOP 3 LOSERS TATA MOTOR - Finally caved in below 300 with a gap-down open and now 275-285 range may get retested. GRASIM - Profit booking appears to have kicked in with somewhat higher volume than the fall of 22-7 and RSI has also slipped below 60 on daily charts indicating that the momentum is fading. LARSEN & TOUBRO - After a good run on the upside over the last few sessions, it has experienced a down day which is understandable. The low of 22-7 is still intact so no cause of concern yet. TOP 3 GAINERS ICICI BANK - Rising ahead of its results indicates that the market is expecting it to report a good set of numbers. Any below the expectations reporting may drag it down sharply. Wait & Watch. ITC - A much-needed candidate on the list! It has shown good traction after retesting its 200 DMA a few days ago and the rise is also with good volumes so we have to see if it can hold on to the momentum next week as well. RSI on daily charts is above 60 so the momentum appears to be on the right side. WIPRO - One more case of a scrip bouncing back up strongly after retesting 50 DMA a few days ago. One more ATH closes though the volume is not as high as it was earlier. POSITIVES ICICI BANK and ITC led from the front and helped the Nifty close above 15850 - both await their results due on 24-7. Banknifty outperformed Nifty led by ICICI Bank, SBI, and FEDERAL BANK. FII-DII net buyers +2,000 Crores. DIIs bought in excess of 2,100 Crores is a big positive possibly indicating that their view is bullish for the next week. Banknifty reclaiming 35,000 levels is a good psycho advantage. NEGATIVES The biggest underperformer that has impacted both the indices during the truncated week is HDFC BANK. A fall of more than 90 points in a matter of 4 sessions has rattled the indices. Even though RELIANCE has closed above 2100, it is below the 50 DMA and on the line of 20 DMA. Nervousness ahead of results is not good as we have experienced in the case of other TCS and INFOSYS in particular. TRADING RANGE FOR 26-07-21 The support line for Nifty is now moved up to 15700-750 with the resistances at 15950-16000. For any future bullishness, a close above 15900 is essential. If the numbers produced by the 3 biggies are below par, the 15600-630 zone may get activated. And in the best-case scenario, 16000 may become a reality soon. 34400-600 is now the support area for Bannifty with 35200-35300 as the resistance band. For Banknifty a below-par performance could mean 34200-400 visits and the best case could be a retest of 35800-36000 levels. INSIGHT / OBSERVATIONS It was quite an unusual thing to see Nifty sliding down 100+ points in the first hour itself. Something was at play which again a retailer would not know by looking at the charts. RELIANCE appears to have declared better than expected results, but its price action on 24-7 is the only way to know how good the numbers were. HDFC BANK is now like a Kumbh Karna. Not sure when it would get up from the comforts offered by the 200 DMA. A big move on either side is possible as all big boys’ numbers would get traded at the open so VIX may be high and so would the emotions at play. Thank you, and Happy Money Making! Umesh 24-07-2021. 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
Will Nifty Succumb to 15835-50 again?NIFTY 50 EOD ANALYSIS -22-07-21 IN SUMMARY Open / High / Low / Close 15736.6 / 15834.8 / 15726.4 / 15824.05 Trading Range Low to High: 98 points Likely Max Realistic Opportunity @ 50%: 49 points India VIX: 11.89 / -9.99% FII DII activities: +700 Crores CHART BASED CONCLUSIONS A 202-point recovery reads interesting. However, in effect, we have ended the day around the high of 19-7-21 with the only change that close is higher than that of 19-7. A strong gap=up opening with a steady rise and the usual expiry type of nosedive and then recovery and closed just below the day’s high and the notorious 15835 levels All weak hands have been shaken out. But the short-term bears have not yet given up. So it is important to see where the weekly close is. TOP 3 LOSERS HINDUSTAN UNILEVER - The FMCG giant made a move that covered the last several days’ range and fell sharply from the high of 2508 to end near day low of 2378. This is a big move ahead of its results. Looks like one more company shaking off expectations and bringing the price to the real level. ASIAN PAINTS - The scrip that emerged as a strong leader on a red day 20-7-21, could not even test the close of that day and fell. The momentum is still high so this may be the usual profit booking. BAJAJ AUTO - Somewhat similar to HUL, but it closed better than HUL and is still within the zone, but the momentum has died down. So it will need a recharge of batteries before it can move up further. It may also get attracted towards 200 DMA which is around 3700 should bearishness prevail. TOP 3 GAINERS TECHM - A towering move by the IT major which took support from its 20 DMA rose after making consolidation every few days. This is a nice move with the momentum catching up above 60 RSI. JSW STEEL - A move like today was necessary for it to move out of the wall like resistance created by 50 DMA which is now likely to act as a support. RSI is below 60 so the scrip may face some headwinds in the coming sessions. BAJAJ FINANCE - A classic 50 DMA bounce after its results and the move is somewhat similar to JSW STEEL in the sense that it still has some headwinds ahead and RSI still below 60. POSITIVES INFOSYS, ICICI BANK, RELIANCE & HDFC took it upon themselves to bring the index above 15800 and close it. While INFOSYS and ICICI BANK showed strength from the open, it was RELIANCE who suddenly woke up from the slumber ahead of its results tomorrow to make all the difference and help lift Nifty after it fell in late trades on the expiry day. All key heavyweights including HDFC BANK except HINDUSTAN UNILEVER ended in non-negative itself is a big plus for the index. FII-DII net buyers +600 Crores. NEGATIVES Nifty fell in the PM session only because of Banknifty retracing more than 300 points from the day high of 34989 - a classic psycho resistance of 35000. Barring ICICI BANK, none of the heavyweight banks performed the way they should have considering the fact that there was good positive sentiment today. Banknifty yet again underperforming by almost 300+ points is going to make things hard for Nifty. TRADING RANGE FOR 22-07-21 The support line for Nifty is now moved up to 15700-750 with the resistances ar 15835-850 and above until it makes a close above 15950. 34300-3400 is now the support area for Bannifty with 35000-35200 as the resistance band. INSIGHT / OBSERVATIONS The Nifty lot size is now 50 for all FNO contracts. TCS is ready to move up but stray news re its spending a few Million USDs on marathon seems to have dampened the spirits. But this is how TCS is. It moves only when it has to and the day it moves, it does not look back. When is the biggest question? KOTAK BANK is witnessing severe pressure around 1720-25 levels and keeps getting dragged to lower levels close to 1700-1705. There is something that is not visible from the retail vision. Thank you, and Happy Money Making! Umesh 22-07-2021. 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
Nifty, Banknifty, Top Stocks analysis with levelsNifty50 and Banknifty saw a day with a gap down followed by a failed recovery. HDFC Bank was one of the key losers after its lacklustre earnings release. Where do you think the stock market is heading? Important Nifty levels and Banknifty levels for tomorrow: Levels for Nifty: 15,596, 15,660,15,733, 15,750, 15,835 15,986 (don't want to pick tops) Levels for Banknifty: 34,130, 34,420, 34,640, 34,800, 35,011, 35,250, 35,340, 35,400, 35,529, 36,455
NSE:NIFTY
by MarketsWithKR
ICICI bank - Triangle breakout🔴DISCLAIMER ***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ****** Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout) After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
NSE:ICICIBANKLong
by PrakWorld_Traders
6