EXPLANATION : This is a 30 Min time frame chart of ICICIBANK . It has been in a consolidate for days and has formed an Ascending Triangle Pattern . If gave a strong breakout and broke its supply zone with volumes and retested the same , I am bullish on ICICIBANK .
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...
***** 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...
Target 1: 615
Target 2: 690
Stop Loss: 525
There may come a correction to lower levels first and then the longing opportunity may come, wait for 560 levels.
Decreasing Volume indicates the possibility of a decent short as well but does not seem a big threat.
Note: The post is only for education purposes.