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Icicibanklong

ICICI Bank looks bullishBanknifty has been a major underperformer in the current market. This is majorly due to the heavy weights such as HDFC Bank, ICICI Bank, Kotak and Axis Bank not moving higher in a sustainable way and hence they correct 70-80% after a small rally. ICICI is a great candidate for a short term trade. Overall structure for ICICI Bank is looking bullish with 6 wide range candles visible, on back ok more than average volume. This is a sign of strong buyers. 2 weeks ago ICICI Bank had given a breakout above a resistance zone from 265-285. Now it is taking support near the previous resistance zone. I would like to go long above 395 with targets of 440 and 485 in the coming few weeks. Personal stop loss will be at 350 levels. The reason why I want to go long above 395 is because 395 is the mid point of the wide range bearish engulfing candle, and a mid point of a wide range candle can be used as a support or resistance. Risk should be managed according to your risk appetite and the SL mentioned is according to my risk appetite. I am not a SEBI registered investment advisor and hence do not follow my analysis blindly. Be aware of what you are trading and the risk associated with it. Stock market is risky and you can lose a lot of your capital. Be wise and trade carefully! Grateful!🙏
NSE:ICICIBANKLong
by inteliigentrader
ICICIBANK BUY ON BREAKOUT I hope you can now see how 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 favor. 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. Example presented in these chart is 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.
NSE:ICICIBANKLong
by EntryandExit
ICICIBANK LONGI hope you can now see how 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 favor. 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.
NSE:ICICIBANKLong
by EntryandExit
ICICI BANK SHOWING WEEKNESS IS IT TRUE OR TRAP ? SEE YOURSELF !Hi Traders, 1. A few weeks ago I mentioned in this stock showing variation of harami pattern which took its price to the upside but not at the blue zone as a target. What I wrote is quoting for your consideration " In the last post of this scrip I mentioned is quoting "in hdfc little confident to go upside but here this gives me an edge over hdfc ." See how price moves changes sentiments in two days. In part -1 post I shared perfect harami pattern activated but in this scrip, it is a variation of harami which is not activated . last Saturday I was bullish on Icici but in two days scenario gets changed. But it does not mean that this stock fulfilled my condition of going down. Till red solid line is not taken out on 2hrs time frame chances price can move up. I will be a little more confident when the upper yellow line is taken out in 1 hr time frame with the first target of upper red solid line and that is also taken out on 1 hr time frame then blue zone lower band." . You can see every word of June 16 post was seen manifested in this stock. As soon as a yellow dotted line in upside crossed it gave good rally to the recent upswing. In the condition I wrote, I am not bearish the same seen last week. There are more than 168+ post Go and search in any post I dropped my consistency of catching sentiments with the market. 2. As soon as the condition fulfills any side price complete its target. On the other side, conditions fail then save you from a big loss. This is how trading can be done. To understand my conditions base I write for new readers and followers. " Taken out condition works in the two-time frame combination for daily( 4 hr + 1 day) analysis. Similarly, work for lower time frames is also a two-time frame combination. For intraday trades 1 hr with 15 min. For taken out condition price has to complete in both time frames. Aggressive traders can take that side position in a lower time frame with the stop loss of breached candle low. In both the time frames given line is breached by a candle that candle high is to be breached by next candle and close should be above the previously breached candle. This is how taken out condition is being implemented. " 3. To understand the current fig . with the previous update compare below fig. with the above current one. 4. In the current fig. I circled two patterns in different colors showing two same sentiments but from different perspectives. The green circle shows an evening star pattern that was tested the same red resistance and gave a good short move to the lower red band of this range. Where the harami pattern was made with a variation discussed in the last post. And gave upside move to swing high. There it formed a bearish engulfing pattern but with a long bearish candle which I feel is not a perfect pattern even not activated till yet. So I feel not work effectively till price breaks the lower red solid line. 5. It may possible that the price will show jerk to the downside and may recover in 1 to 2 hours. On the contrary, If the price takes out a lower sold line in 4 hr time frame then the trend will reverse to the downside with the target of the white upper end to the lower zone. Three arrows showing different conditions upper green means upper condition gets activated, median green means red zone condition not activated and a red arrow means lower zone gets activated. The rest price will decide. YOGESH VATS Disclaimer:- All positions should be taken from consulting your financial planner. This is pure educational proposes only.
NSE:ICICIBANK
by yvatsji
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