Icicibank is giving short breakout @260.10 below which it can go to 257.10 if do not break 262.20 on upside.
ICICI Bank trading in a rising channel respecting the support and resistance, it has been approaching to its channel support with a target of somewhere between 250-248, As the bank nifty has been under pressure and doesn't seem strong enough to go upward. it closed on forming doji means undecided whether go upward or downward but there is a strong changes are...
This would be the possible short term view for the icici bank. I hope it goes well, as anticipated. Regards
It is been observed that the price action is overall trending in a uptrend channel with a short correction in downtrend channel highlighted in blue. Now, on the result day it may touch the resistance level at 280 levels or may go down to 260 levels to next support. Upside: 280 (Resistance) Downside: 260 (support)
ICICI Bank after trading within channel and touching 290.00, it is trading towards channel support to somewhere between 260.00-250.00, Traders may go further short on ICICI Bank up a target of 260.00, in near term one can stay short in ICICI Bank.
ICICIBANK which was moving inside the channel in Daily chart. Tried for the breakout of the trendline and failed with a Powerful evening star reversal. Entry 278 SL 292 Target 1 269 Target 2 258 Reward min 9 Reward max 20 risk 14 ROR1 0.6 ROR2 1.4 Though current entry is not rewarding can be shorted on a pullback if your a risk reward lover.
The stock is respecting the channel nicely and have multiple resistance at this price zone so bull run may halt for time being now or it could see the price range of 250 in the coming expiry. It would be interesting to watch price action and see if it gives chance to trade.
From last 6 months trading within the channel and looks today reached bottom of the channel. Further will be heading towards the previous high of 282. One can wait for the momentum to reverse with a stop loss at channel bottom.
potential short setup
ICICI Bank got corrected in short term but it has maintained its long term bullishness view. It will rise till 285 without any resistance.
The price action is been trading in a upward trending channel where the price action is respecting upper trendlines as resistance and lower trendline as support. Today, the price action indicates weakness at upper trendline or resistance level where profit booking can take place. I believe the price action shall retrace to fibonacci levels of .50 or 0.618 where...
I have observed that the price action of ICICI on monthly chart is trending up and building a clear leading diagonal. It is been moving in 5-3-5-3-5 waves pattern that is narrowing gradually with the price action. At present, It is been observed that the leading diagonal has completed its Wave 1, Wave 2, Wave 3, Wave 4 and now it is preceding towards the...