IBNC trade ideas
ICICI Bank on 29.10.21Chart is self explanatory..... obtained support as shown on the daily time frame and coupled with MA, the stock is likely to be on uptrend from here. If the current support is broken, it can fall further till the next support level as shown.
Disclaimer - The analysis is for educational purpose.... suggestion welcome.
ICICIBANK Trend AnalysisICICI bank has been falling for the last 5 trading sessions and this is just a mere sign of correction because of the massive gap-up opening on news of its results.
ICICI might correct up to 770 levels and in case of a bearish market, up to 750 levels.
However, this is a strong stock with a good future ahead so it might be a good idea to buy on dips.
Please consult your financial advisor before making any decisions.
ICICIBANK Trend AnalysisICICI Bank hit a new 52W high on very strong results and has formed a base at 797 levels.
In case Bank Nifty falls, ICICIBank will break its 797 support level and cover the gap created between 22nd and 25th October.
A very good idea to buy on dips since it has beaten HDFCs results in the last couple of quarters and has started accelerating its growth in which it lagged since 2017.
Please consult your financial advisor before making any decisions.
#ICICIBANK Breakout, bullish divergence &gap support with a doji#ICICIBank 18% breakout from previous resistance in just 2 weeks following earnings but gave up half of it forming a indecisive gravestone doji at a gap support.what else to do when even index gives up >5% in same time. Daily timeframe has a bullish reverse divergence that could lift it up. Momentum is very good on all timeframes intact in bullish zones ADX trend strength rising up on weekly and dmi positive in bullish zones and rising as well. Above moving average volumes on weekly.Banking index also is at a support forming a hammer bounce candle. Be cautious on the dojo on weekly as it indicate the bear pressure. Therefore gap support should be stop loss for swing trades with entry above previous candle high.
icici bank near supportgood buying opportunity in icici bank
it is near support and making a very good risk reward ratio for trading on both long and short side.
if banknifty is negative then it is goin to fill gap and is perfect for short trade.
using market volatility, this can be very fruitful trade.
comment for any queries or help(suggestion) on any active trade.
icici bank formaing a bearish pattern nowtomorrow's candle can be a determining factor for next month expiry futures.
considering the gain and bearish polynomica, a closing below todays close will bring the stock down to the levels as mention.
any direction ne the trade.... both will be very lucrative.
please hedge postions before entering the trade