Very high convecation ICICIBANK going downICICIBANK form descending triangel chart pattern if stock breakdown we buy fut of ICICIbank then wait for target.
I1BN34 trade ideas
ICICI bank in a clear channel pattern Unless it doesn't break this channel pattern it's in a downtrend. If the stock is able to break the channel pattern expect a high momentum in this stock.
ICICI Bank - Bullish pennant Although ICICI Bank chart is forming a Bullish pennant, global market narrative is not in favour of bull markets at the moment
ICICI Bank Ltd - 11.02.2022ICICI Bank Ltd - 11.02.2022
The stock is trading @ 790 levels
The prices are near EMA
There is a SPINNING TOP in Weekly Charts
RSI is 58.97 in Weekly Charts
Let the prices go above 806; one can initiate a BUY Position with Support @ 773
There is a RESISTANCE Zone at 810 levels
watch out for the price action
ICICIBANKAs per weekly levels, ICICIBank is poised in the middle, next few sessions can tell us where the price is heading, but one thing is for sure in intraday trending move is very difficult and many whipsaw might come
Icici BankHere, ICICI bank is making a symmetrical triangle pattern in an uptrend. We can also say that it is a flag in form of symmetrical triangle. As prior trend is up, a break on upside can push the prices higher.
Disclaimer: only for educational purposes.
ICICI Bank- Could go either way. Good setup for 50+ pointsICICI bank's price action looks good for about 50 points on either side depending on which side of the small narrowing wedge (nested inside larger widening wedge)
ICICI is preparing to be accomplished with it's 5th wave !This is ICICI monthly timeframe chart, which has a major trend as an uptrend.
In this, 1 to 4 waves have been formed and to complete the impulse module, the 5th wave is going to be made.
The third wave is extensive. The wave count of it is a bit unclear. When we count the minor waves of the 3rd wave, the 4th wave of minor waves is overlapping. But if we see the big cycle, the 4th wave is not overlapping.
In the 3rd wave, if we connect the points of it we can see an expanding diagonal like shape. But we know the rules that 3rd wave is always an impulse, diagonals cannot be formed in it.
Parallel Channel :
I have drawn a parallel channel. In this, supply and demand are equal, that is why there is no excess formed up here. Sellers and buyers, both are satisfied with the price.
The upper boundary and the lower boundary are acting as strong support and resistance level.
On the upper boundary, the price has touched only once, the second time it is going to. We can not take it as valid, because according to the resistance line rules, the price must touch the line twice, and the third should be touching the line in the future.
Fibonacci Retracement: The 2nd wave retracement is 100% of the 1st wave. The 3rd retracement is more than 161.8%, which is why it is an extended wave. Its retracement is 2.618. The 4th wave retracement is 0.5%. And it is not overlapping the 1st wave.
Reversal and Pressure:
I have mentioned 5 points of the price here with connecting a trend line. There is a reversal which is converting selling pressure into buying pressure. In every reversal, we find more volume than average volume. In this, we can see an engulfing pattern, spinning top, wick rejection, and piercing pattern.
After this, I have mentioned a few price points. There are pressure and reversal which is converting buying pressure into selling pressure.
Elliott Wave last move expectation:
Here the 4th wave is retraced at 0.5% of the 1st wave and it is formed. If the current move is the 5th wave, then the 1st and 5th wave distance will be equal. That is the minimum count of it. If the 5th wave can not cross the 3rd wave, there will be a truncation. The 5th wave will be called the truncated 5th wave.
If there is less momentum in price extreme, the 3rd wave of the minor waves acted as support in the previous reversal, it will act the same as before with providing support to the price. This is just an assumption that the 4th wave is formed. But if it is done, it could make a triangle or a flat zigzag.
If you trade in this situation, DO NOT forget to place the stop loss.
To check the retirement of the 5th wave, I have used Fibonacci Retracement and a trend line. If the 4th wave is formed, and the 5th wave is not truncated, the price would travel 78.6% to 100%.
By using a trend line, I am drawing a resistance line to measure the possible ending of the 5th wave.
With the trend line and Fibonacci Retirement, we can see the target will be 78.6%. ONLY if all the situations are fitted well.
According to the price action rules, the price will touch the upper boundary to get crossed out of the parallel channel.
Ichimoku Analysis: Tenkan and Kijun :
Tenkan and Kijun, both were flat and the price was making a consolidation area. The price extreme is breaking Tenkan and Kijun.
We know that Tenkan provides minor support and Kijun provides strong support. When these both were flat, it was giving a selling signal. But we know that the price was consolidating so it was a fake selling signal. This fake signal has given a clue that the cloud was below the price. The Chikou was free above the price and cloud.
The KUMO cloud provided support for the price.
This was a pure buying signal:
1- Price has taken support on cloud and cloud acted as a resistance.
2- Chikou was above the price, cloud, and Ten-Kij.
3- Ten-Kij were broken by the price. It went upwards. They both were resistance to the price but now it will be a support.
4- Price was above the cloud.
Buying will be confirmed when the current candle will be closed above Ten-Kij.
stock is growing but truncation area is their !In this chart you can see that price is respecting parallel channel.
if price wants to grow more , their is no concept of truncation.
wave 5 may have to travel 78.6%.
price may destroy resistance and we can also get pull back.
check related idea for more detail.
if their is reversal we can get signal by candlestick patterns.
ICICIBANK | 20% + earning opportunity in Swing /Short term Trade20% Earning opportunity in Short term trade.
CMP: 805.05 ( Good above 812 )
SL: 763
Target: 1035
( Targets calculated on the basis of Fib. and previous swings )
Disclaimer:
I am not a SEBI registered analyst. My studies are for educational purposes only. Please consult your financial advisor before trading or investing. I am here just to share my views and have fun!!! Don’t take me seriously…..
Happy trading !!!
wave c is complicated ??Hello Everyone
this is my first post
I make Elliott Wave but I'm not sure I can calculate Elliott Waves correctly because this is my first post you can comment me and right suggestion for me
thank you all of you
Stocks Algo for nifty 100 , tomorrow stocks selection (02-02-22)Dear Friends,
Refer chart for tomorrow stocks Algo..
we have selected four stocks for tomorrow market based on Analysis.
Regards
Kirit
ICICI bank 14 % Move the Script is in good uptrend and now have recently retraced from FIB level and have shown good bullish candle. If it crosses 0.618 Level and Sustain a candle in 30 Min -1 Hour TF we can see good buying opportunity .
PLEASE MANAGE YOUR RISK
ICICI BULLISH FLAG ICICI BANK
Bullish flag pattern formed on charts.
strong base buildup in OI.
Only for education purpose
this is a chart of icici bank Hi everyone,
If you break out the parallel channel in this chart, the whole trend will change and you will continue to move from downtrend to uptrend. Elliott Wave most complicated wave c is running
thank you
#Correction in ICICIBank - May give good buying levelsA correction phase has begun. RSI falling. If it breaches 762 level, can give a good buying opportunity around 709-715 levels.
A downward megaphone pattern, if continued, can be the cause of a steep fall.
ICICI Bank READY FOR UPMOVEAfter a long parallel channel support with retracement at .5, one can long ICICI Bank with small SL
ICICI Bank: Go for ShortAs per request of People.
In ICICI go for short . Now in Downtrend and also retraced level of 0.3. Best time to short selling. Also form Bearish Engulfing.
CMP: 781.15
Target 1: 753
Target2: 709
You also go for Long term buy on dip strategy with five time investment.
Feel free to share your feedback and queries.
If you want to know about your stock please mention in comment.
ICICI Bank - Bearish Engulfing patternOn Date 28/01/22 The ICICI Bank Made a Bearish Engulfing pattern on Daily time frame.
ICICI will it retrace at .618 or take strong support at………ICICI - for now it took support at fib level.618. But considering the budget will it still retrace from .618 or take strong support.
##educational purpose only**
ICICI Long analysisLong on ICICI - Double bottom pattern, near super trend Entry @ CMP for target of 840 and 860 with SL of 740
ICICIBANK Trade Setup for TomorrowICICIBANK Formed Double Bottom Pattern and has given a breakout. Wait for a retest and based on that, one can look for buy side entries.
We can see the rise in volumes which shows that buyers are in control.
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