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ICICI Bank Limited ADRICICI Bank Limited ADRICICI Bank Limited ADR

ICICI Bank Limited ADR

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IBNC trade ideas

ICICI Bank is now on the radar.On Thursday(16/12/2021), we saw many banking stocks close in the red. The indices, also in red, closed above 36,500. Well, we know it's an important level of banknifty. It also important to watch how Banknifty is going to perform. * ICICI BANK, with a weightage of 5.84 percent NIFTY50 stock, is down nearly 18 percent from its recent high, making now an good time to add to your long-term portfolio. *Recently, many analysts were also bullish on the stock, and we saw it shoot up. price action movement as well.  *Before entering into the stock, just look at the daily chart and draw a fib retracement line (867) between the recent high and (710). Look at where the 0.5% line and the same line recently took resistance near (770).The lower side (710-700) is actually acting as a good support level. Well, we can consider this respecting the price action. *In that case, considering the fib line, the current level looks good near (740). From the price action, we can expect bullish moments from there. If that respecting, I am confident about entering into a long position with strict SL.
NSE:ICICIBANK
by Manuadarsh
1
icicibank channel and harmonic patternas we can see it was moving well in rising channel and finally broke out upside but hey wait ! you could have waited to retest this channel line to enter for long and if go by the books if you miss the long journey it is high time you entered it when channel line or trendline is retested. Now i have combined this upper channel line with bullish ab=cd pattern and long target according to it being 957 Possibility 2: what if it does not stop on channel line upper one? then it will come to down to lower channel line and we can long / average here at 706 i have shown both moves with two different colors good luck Our most harmonic pattern hit the target, it takes efforts to study technical analysis so if you like the idea, please share & like the idea thanks
NSE:ICICIBANKLong
by UnknownUnicorn22711483
5
ICICI Bank might have completed its correction / FallAfter continuous selling pressure from 860 levels, ICICI bank has now lost the momentum on the downside. It is evident by failure to make a new low on daily basis and increased volume, even today it made a news high with volumes after 6 bars as marked by box. This shows the supply is being cornered, sellers are failing to make a new low. The higher high higher low structure on weekly is intact. Interesting is the RSI divergence on daily chart & trend line breakout on line charts. Below is the trend line breakdown on weekly charts. Important is to note that the large red breakdown bar is in the end stages of downtrend, looks a blow off bar with volumes. Simple logic is why market maker will sell aggressively at lower levels? he could have done that at higher levels only. Another point is that red bar is followed by indecision bar, hence the breakdown is followed by indecision zone and not follow up selling. To conclude the breakdown failure chances are high, resulting in bear trap. One can accumulate with 650-660 SL on weekly close basis. RR is favorable, current Risk is around 9-11% This can be good levels to accumulate for delivery purpose too Note: as there is continuous down trend, stock can take a breather and give sideways movement & then resume its up-move.
NSE:ICICIBANKLong
by varadtambolkar