ICICIBANK has taken support near 264 which is its earlier resistance area and has formed morning star pattern. It needs to close above 272 for confirmation for trend reversal. It it sustains above 272, then 300 looks possible. Below 264, pattern failure.
Morning Star –Talents / Patterns cannot be hidden@ 398-408
Fold your hands & say thank you to Morning Star- They will feel nice.
Talents/ Patterns cannot be hidden for long, they are like bubble or soda pop in the fizzy water.
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in weekly time frame, morning star is formed at the horizontal support zone which coincides with .618 retracement of prior downtrend.
Also in daily time frame there is a breakout from downtrend channel with good volume, It seems trend reversal is done here and price should move from now on.
here sl should be - 102 (below...
price is moving in an uptrend channel in weekly time frame.
Recently morning star candlestick formed at the channel support, and price is reversing , so 1st tgt - previous swing high - 90.5, and sl - below the channel support - around 76.7 .
Morning Star candlestick formation on Weekly chart of Century Tex, which is giving bullish trend for short term.
It's a short term recommendation.
Buy Above = 813
Target 1 = 906
Target 2 = 978
Stop Loss = 747
Reward Points = 165
Risk Points = 66
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