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ICICI Bank Positional View !ICICIBANK : cmp : 676.65
A cup & handle kind of pattern formed and BO done near 665.
Now trading near the ATH resistance zone of 680.
RSI trending up and big bullish candke has been formed.
If surpass and sustains above 680 lvl, a fresh buying move possible in the short term.
TGT may be 698/714
SL 659 clbs
Positional TGT 776
Positional Sl 638 clbs
Option Strategy : Buy Aug 680CE @ 16.5-20.5 tgt 31/38
Sell July 670 PE @ 10
tgt entire premium.
Disclaimer: Ideas for learning Only.
Learn Regularly. Not occasionally.
ICICIBANK- CUP formed, handle under formation-20~30% returnICICI Bank in up trend , downfall from 680 and bounce back from demand zone 530~540 to CMP range 640~665 as presently taking hit in the supply zone of 665~680 and forming double top.
This price action formed a CUP and expecting handle formation from supply zone 665~680 to down fall up to next demand zone 595~605.
Hence entry can be taken in the demand zone 595~605 area with SL-580 for the target 665~680 and once handle breaks further can be added above 680 for the target of 795~805.
So strategy is to capture the move of Rs.200 /share with SL only Rs.10~15, Risk to Reward will be good for this swing trade.
if price does not come up to demand zone and after consolidation in the range of 640~680 , breaks 680, fresh entry to be taken above 680.
ICICI Bank Positional View !!!ICICIBANK : cmp: 576.7
May bounce back from here.Godd consolidation seen near support zone.
Strictly buy above 581.35
TGT 592/601/613/625
If surpass and sustain above 600 lvl a huge short covering poosible
and stock may go upto 700 lvl.
SL 555.75 clbs positional
Disclaimer: Ideas for learning Only.
Learn Regularly. Not occasionally.
ICICIBANK BUYICICI Bank has shown a breakout. Add it to your watchlist. You can trade it with targets of 445/460/475.
Please use proper money management rules and trailing stoploss.
This idea is for educational purpose only. Kindly trade only after consulting your financial advisor.
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ICICI BANK - RESULTS DAY It is been observed that the price action is overall trending in a uptrend channel with a short correction in downtrend channel highlighted in blue. Now, on the result day it may touch the resistance level at 280 levels or may go down to 260 levels to next support.
Upside: 280 (Resistance)
Downside: 260 (support)
ICICI Bank Trending in Channel, Showing Weakness The price action is been trading in a upward trending channel where the price action is respecting upper trendlines as resistance and lower trendline as support.
Today, the price action indicates weakness at upper trendline or resistance level where profit booking can take place. I believe the price action shall retrace to fibonacci levels of .50 or 0.618 where we could see buying coming back again. Therefore, it is good time to sell now for
Target: 265
Stoploss: 285