ICBA trade ideas
ICICI Bank: Bank on it for a good moveCurrently, ICICI Bank made a rebound after a correction. Levels of 747, 765 and 805 can be immediate resistance on the way up.
If the rebound fails, then, look for strong support at 710, below which 692 is another support zone.
Also, 734-682 looks like consolidation range and hopefully the stock should stay in this range if it falls.
Going bullish, a target of 843 and 974 in the medium to long term looks probable.
ICICI BANKNSE:ICICIBANK is the best fundamental company in the banking sector.
After the gap up of 25th Oct stock fills the gap on the daily time frame, and now taking very strong support from 734 level.
Investors can buy this dip of 10% from the all-time high, it will be a very good investment for future.
ICICI Bank Ready to shootIcici bank is being consolidated from some time and surely going to move from its current level ie. 740.15 to 830 very soon probably in 60 to 90 days. The curve and arrow study is giving a clear indigation of its being increase from its current price. So make a sharp eyes on this top notch bank. the pistal has been loaded and ready to shoot.
Short Term Long Position in ICICIBANKThe bank is fundamentally strong and the banking sector has completed correction and has started moving up.
ICICIBANK is undervalued and has moved above the 50 EMA after consolidating between 735 and 710. Expecting the correction in the broader market is complete, the bank is expected to give short-term returns of up to 15% in a timeframe of 45-60 days.
Technical - Bullish Divergence noted in 1Day and 4hour charts
Entry - Above 750
Stop Loss - 735/710
Target - 840/865/900
**This is not a recommendation. Do your analysis as well.
ICICI Bank - Breakout from neck lineNote: This is for educational purpose only. Please do not trade in F&O based on this analysis.
There seems to be a bullish breakout in W pattern from the neck line. Price is rising with rising volumes. Relative strength of the stock is more. RSI at 64 indicates bullish momentum as well.
SL: 730