ICICI Bank Chart ViewICICI Bank given false break out of channel upper side and then fall. Now price Breaked channel on lower side. ICICI Bank has a support around 439-441 and RSI showing diversion at lower level. Let's see, Where it will go!
Disclaimer:- your capital at risk, consult your financial advisor before do any action and do own analysis research.
ICICIBANK
Q1 Results for ICICI Bank have come ! Should you be Buying it ?As the Q1 results of ICICI Bank have come you may thinking if you must buy and hold the stock. If yes! Then what should be your targets for the same. In this Analysis I will try to share my entry points and targets which will help you get into the market and gain your profits.
The Strategy
I Recommend the entry for Short term , as the Stock seems to sustain above 20 EMA and the MACD is in buy zone we can take entry at the Swing High which is 385.50. Once the Stock crosses 385.50 a momentum can be seen in the stock. We must exit at 1 or 2 points at max as the Candles would be away from the support zone. Keeping the Quantity more ie. nearby 1000 or 2000 can easily help us make 1000 to 2000 INR on Monday morning.
Entry and Exit Price - TARGET
Entry / Buy Price : 385.55
Exit / Target Price : 386.55
Long Term Vision : NOT RECOMMENDED
Once again ICICI BANK can breakthrough all bulls expectations.ICICI Bank can move towards 400-414-434. Below is my strategy for traders in this banking stock.
Upwards:-
Wait for ICICI Bank to take a direction. It currently stands at its resistance of 380. If this moves upwards or opens with gap-up, take an entry/buy position at 386-388 only after it touches 388 atleast once.
Entry point: 388, SL: 378, Target: 400 (Intraday), 414 (within 2 days), 434 by next week.
The stock is exhibiting uptrend and should achieve the targets as quoted above.
Downwards:-
The next level/support is 343. The long positions can be squared off at 372 in case of downward move(not in case of gap down opening, hold for pull up in this case and then consider this whole strategy). You could short ICICI bank to see intraday lows of 354 or 343 within next 2 days.
ICICIBANK Expected BEARISH JULY-LAST WEEK 2020CMP of ICICIBANK is 394.80 as on 23rd july 2020, by seeing current market trend most of them expecting that it will continue in bullish trend. but the bull trend is over now. this article written by me on 23rd july 2020 at 11.45pm. it may not continue in bull trend for upcoming days. as per my view of ICICIBANK it will follow downtrend for next 1 week till 30th july 2020.
price is expected to fall around 370 TO 375
when it break 370 we may expect upto 360 TO 365 on or before july 30th.
the idea here i shared it only for educational purpose before take any trade apply your own analysis.
LONG ICICI BANK NSE:ICICIBANK Line chart has given breakout on yesterdays closing basis. today it gave important eod closing. all banks have bullish charts means banknifty going to be a massive trade. just remember SBI gave zatka on 200 level. SBI should sustain 200 level on 30min candle atleast for a valid breakout. all banks will follow sbi n kotak ...why ???? u answer first...later i will comment
ICICIBANK momentum trade and Long positionSupport points for long position
* Missed posting yesterday. expecting gap up opening.
* Broken its channel pattern with strong bullish candle with very small wick at top and bottom.
* Closed above EMA 100 on day chart.
* No resistance till TGT 1 - 392.5.
* As stock is trying to close the gap the next target would be 398.6 which is EMA 200.
* If closes above 398.6 with strong candle we can expect TGT 3 - 424. We can expect retrace upto 381 before moving to the TGT-3.
BUY @ CMP 378.8
SL @ 373.5
TGT 1 - 392.5
TGT 2 - 398.6
TGT 3 - 424 (Expect small retrace)
NOTE :
Please adjust for future rates accordingly!!
Respect Stop loss!!
Disclaimer: All charts are purely for educational purpose only. Invest or Trade at your own risk.
ICICI Bank on bullish modeStock of ICICI bank can be seen in uptrend & forming higher highs & trading above the 20 EMA. Now level of 380 is daily BO for this stock. So lets wait for complete BO of the trend line above the level of 380. So after the successful BO we can expect the target level of 395 -400 very easily. So add the stock in your watch list to see the price action movement.
Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. Request to like & follow for more such ideas of technical analysis learning.The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask .
SHORT ICICIBANKI hope you can now see how the ICICIBANK represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favour.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these products are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.