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ICICIPRULIICICIPRULI :- Head and Shoulder pattern can be formed, if the pattern is formed and breakout is found, then plan something only after that. Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:ICICIPRULILong
by AjayDhakad_Keep_it_simple
2
#ICICIBANKICICIBANK is possibly headed for a correction, weekly charts suggest that it has taken resistance with a kind of double top formation near the channel top with RSI divergence. It has corrected from top and has recently done a pullback near to 50% level, from there it is again facing resistance and there is possibility that it eventually corrects upto channel bottom. If my market profile reading is correct, then slowly it may eventually test 1180 POC and based on #GannFan analysis it is probably facing resistance as per this chart, with a very important time Cyle of 99B & 144D from its recent ATH already completed. Such confluence of Time cycles does give some violent moves once price breaches High or Low of confluence This post is not a buy or sell reco but just for my own records and learning purpose. Before taking any trade, do your own research and consult your Financial advisor
NSE:ICICIBANK
by aktradelearning
1
ICICI Prudential FuturesICICI Prudential Futures Buy idea LTP: 479.45 Support: 460.75 Resistance: 538.55 (539can be considered as a breakout level too) Daily charts (long term) The charts a bearish, head and shoulder pattern from 2nd Dec to 12th March. The pattern was followed by a breakdown to 433 levels after which there has been a recovery since 22nd March and finally the pattern was broken on 20th Apr. Another pattern that I see is a cup and handle pattern. This is a strong bullish pattern and this pattern was one of the reason that I am bullish in this script. MACD and RSI are showing a strong bullish trend as well. We can depend on the script with such strong daily charts as this means that it might not breakdown for sometime now. Hourly charts (medium to short term) Hourly charts did close with a confusing note but none of the indicators are in the bearish territory. Just slight sideways and neutral moves in the charts. 15m charts (intraday or short term) 50 DEMA is at 476.10 and the LTP is 478.25. The stock is trading too close to the next support level. RSI has broken the 50 mark and there is some heavy selling in MACD as well. This means that we can expect a little dip. Final overview: Can buy now and add more at around 470 - 476 levels. I am not sure if we will get a chance to buy at lower levels so I would suggest to begin accumulating the stock from this level and add at lower levels. ICICI Prudential Futures Buy idea LTP: 479.45 Support: 460.75 Resistance: 538.55 (539can be considered as a breakout level too) Daily charts (long term) The charts a bearish, head and shoulder pattern from 2nd Dec to 12th March. The pattern was followed by a breakdown to 433 levels after which there has been a recovery since 22nd March and finally the pattern was broken on 20th Apr. Another pattern that I see is a cup and handle pattern. This is a strong bullish pattern and this pattern was one of the reason that I am bullish in this script. MACD and RSI are showing a strong bullish trend as well. We can depend on the script with such strong daily charts as this means that it might not breakdown for sometime now. Hourly charts (medium to short term) Hourly charts did close with a confusing note but none of the indicators are in the bearish territory. Just slight sideways and netral moves in the charts. 15m charts (intraday or short term) 50 DEMA is at 476.10 and the LTP is 478.25. The stock is trading too close to the next support level. RSI has broken the 50 mark and there is some heavy selling in MACD as well. This means that we can expect a little dip. Final overview: Can buy now and add more at around 470 - 476 levels. I am not sure if we will get a chance to buy at lower levels so I would suggest to begin accumulating the stock from this level and add at lower levels.
NSE:ICICIPRULI1!Long
by virralthakkaar