IBNC trade ideas
ICICI Bank – Sustained Bullish MomentumTopic Statement: ICICI Bank has been rigorously bullish since the 2020 market correction, with strong upward momentum.
Key Points:
1. The stock price is moving within an up-trending channel, ideal for buying at the lower end and selling at the upper end.
2. A triple top candlestick pattern is forming, signaling a potential breakout and further bullishness.
ICICIBANK LOOKING GOOD TO SOAR HIGHICICIBANK is currently trading at 1328.75, showcasing a strong breakout and successful retest at a critical level, where the previous resistance has now turned into support. The stock has consistently performed exceptionally well since its inception, supported by great fundamentals and a solid technical setup. With this bullish momentum, a significant rally could be on the horizon in the coming weeks. The levels and targets for both short-term and long-term trades are clearly defined and promising.
P.S. The long-term outlook extends until the end of next year.
ICICI Bank is likely to stay in its channel, No breakouts!ICICI bank has had a really good year, outperforming its rivals with 31.1% Returns in last 1 year while its main competitor HDFC sits at 13.9%. ICICI Bank is already trading slightly above its 3 Year Median PE.
All this points that a breakout from ICICI's current parallel channel is very less likely, and the bank is going to continue to stay in this channel only.
The lows will be formed either at bottom line of the channel or center line. This will create technical BUY signals for this stock.
targets open in ICICI BANKICICI Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 9,21,925.00 Crore).
ICICI Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2024.
ICICI Bank: Cleared for Takeoff? Targets Locked and Loaded!✈️ ICICI Bank: Cleared for Takeoff? Targets Locked and Loaded! 🚀
ICICI Bank is currently cruising at 1,300-1,310, but it’s looking ready to engage afterburners and soar to new heights! With flight path checkpoints at 1,362, 1,403, and a final mission target of 1,449, this banking jet seems all set for a high-altitude adventure. 📈
The engines are humming, and ICICI is looking like a top-gun contender, ready to outmaneuver the bears and climb to its next airbase. First stop: 1,362 — a routine check-in. From there, it might throttle up to 1,403 and, if everything goes as planned, reach the high skies at 1,449. That’s the kind of altitude that makes even veteran pilots proud! 🛫
Traders, strap in and keep your radar locked on. This flight looks strong and steady, but as always, keep your ejection seats (stop-losses) ready — just in case ICICI decides to buzz the tower and regroup. For now, though, the sky’s the limit! 🚀✈️
Here’s to ICICI Bank’s upward mission — clear skies, strong tailwinds, and a smooth ride to 1,449 and beyond. Over and out! 🛬
Wish You Happy & safe trading
"Always Respect Risk"
Happy Trading
Jai Hind Jai Bharat
ICICI Bank. Short Swing Below 1200. Targeting 1060.ICICI Bank looks weak on Charts after having Given a Great Run.
Reasons to consider Shorting below 1200
Technicals :
1. Rejection from fresh Weekly Supply Zone established around 1280.
2. Double Top in formation, to complete upon breakdown of 1200
3. Bullish Channel Breakdown
4. Bigger Parallel Channel Resistance Hit at ATH
5. Rsi Bearish Divergence on Daily Timeframe.
6. Breakdown of 50 and 100 DEMA
Options Data : Put Writers around 1250 1200 will unwind, triggering sharp down move.
TP1 : 1170 ( 200DEMA, Minor Demand Zone territory, 1.0 of Trend based extension)
TP2 : 1100 ( Major Demand Zone Territory, Nearing Lower Band of Parallel Channel)
TP3 : 1060 ( Point of Max Pain, Bulls will try to defend this level at any cost, upon failure to defend the 1000 1060 zone, would result in testing of 800)
SL: Weekly Closing above 1260.
ICICI Bank cmp 1269.30 by Daily Chart viewsICICI Bank cmp 1269.30 by Daily Chart views
- Support Zone 1242 to 1257 Price band
- Support at 1231 > 1193 > 1155 with Resistance at 1299 > 1331 > ATH 1362.35
- Stock Price trailing along Rising Support Trendline with attempts to Test Retest Support Zone
- Volumes are steady and stable but need to increase for upside momentum continuity else breakdown is probable
ICICIBANK - In the ZoneLike market even ICICI bank is now appears to be stuck in the zone
With 2 strong supports on the downside as 1240 & 1265-90-10
Also 2 strong resistance on the upside as 1290 & 1310
It seems stock may not come out of this zone anytime soon
Good opportunity for strangle straddle players
An extended zone of 20 points is stop loss on the both sides
Technical analysis of ICICI Bank LtdThis chart is a daily technical analysis of ICICI Bank Ltd., showcasing price movements along with various indicators and tools to understand possible future trends.
ICICI Bank’s stock price is consolidating within a rising channel. It’s near key moving averages, showing potential support in the medium term.
ICICI bank clear channel support!It sounds like ICICI Bank might be at a key technical support level, often referred to as a "channel support" in chart analysis. If a stock is trading within a price channel, the lower trendline represents support, meaning it could be a point where buying interest comes in, preventing the stock from declining further.
ICIBANK: Swing: 1D 16-Oct'24ICIBANK: Swing: 1D 16-Oct'24
ICICI Bank is trading in a channel (marked) for the last several months and is in a uptrend. ADX is 21 (>20).
The ADX slope is -ve but seems like the slop is reducing and will turn positive in the coming days.
The stock hit the bottom of the channel on 11-Oct24 with a red candle and then on 14-Oct'24 bounced back with green candle. Ideally the close of the 14-Oct'24 candle should have been our buy price but on 14-Oct'24 the stock was trading below 9 SMA
On 15-Oct'24 too the stock continued its trend towards the upper end of the channel and closed above 9 SMA. Will initiate trade on y'days close
Entry / Target / Exit
ATR = 24.25 (15-Oct'24)
Entering long @ 15-Oct'24 close 1255.5
Stop loss = 1 ATR below channel (needs to be monitored as the trade progresses)
Target = Close to the top of the channel (needs to be monitored as the trade progresses)
Exit criteria = Hits StopLoss || Reaches Target || Price goes below 9 EMA
Risk:Reward = Unknown since the target and stop loss are yet to be defined. However, it looks like the it would be a 1:1.67 kind of a trade.
ICICIBANK // level // 1d ICICI Bank (ICICIBANK), you can follow this structured approach:
Support Levels
Recent Lows: Identify significant low points in the past weeks or months. For example, if ICICIBANK recently dropped to around ₹800, that could serve as a support level.
Moving Averages: Look at the 50-day or 200-day moving averages. These often act as dynamic support levels.
Previous Support Areas: Historical levels where the price has bounced can also indicate potential support.
Resistance Levels
Recent Highs: Determine the highest points in recent trading sessions. For instance, if the stock peaked at around ₹900, that could be a resistance level.
Trend Lines: Draw trend lines connecting recent highs to visualize potential resistance.
Psychological Levels: Round numbers like ₹850 or ₹900 can often act as resistance.
Example Analysis (Hypothetical)
Support Level: ₹800 (recent low)
Resistance Level: ₹900 (recent high)
ICICI Bank Itd view for Intraday 1st October #ICICIBANKICICI Bank Itd view for Intraday 1st October #ICICIBANK
Buying may witness above 1283
Support area 1270. Below ignoring buying momentum for intraday
Selling may witness below 1259
Resistance area 1270
Above ignoring selling momentum for intraday
Charts for Educational purposes only.
Please follow strict stop loss and risk reward if you follow the level
.Thanks,