Note: This is for educational purpose only.
Seems like formation of Inverse Head & Shoulder pattern. RSI above 60 and high buying volume indicates a bullish breakout.
ICICI bank is following a parallel channel. Today It took support exactly at the lower channel on the hourly chart. So I think we should go long with ICICI bank.
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INTRA-DAY TRADE IN ICICI BK MAY FUT
BUY@346
STOP@344
TARGET@349
QTY=2750
!!please note trade with caution!!
!!manage your risk!!
!!trade-wise!!
!!please adjust for future rates!!
!!intra-day ideas series everday at between 9:30 to 10:30!!
ICICI Bank trading through a rising channel. 435.5 to 436.75 region seems like a good support zone and that can be expected to hold on well. Once if price breaks above 444, we can expect a quick move to 450 and even beyond. Demand areas noted in chart.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do...
ICICI Bank trading along a rising channel. Currently it has hit a resistance area. A break and close above 425 might take it towards 430 and 437. However, if the resistance is to hold price could fall to the bottom end of the channel.
Keep buying on dips, do not buy in one shot, keep stop loss below Rs.5 of your average purchase price.
It can move upto Rs.328-330, keep booking profits before that levels also.
