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Price now not ready to go below 295
Double top formed excatly on Fibonacci level
Levels mentioned on the chart.
SL for buy 308
SL for sell 335
Short ICICIBANK below 317
one can look into this stock above 294.8 (close)
can expect the stock to move towards 397/399/301/303
with sl placed around 285
icici breaks long term resistance with very high volume.. target 320 , ST 290
Break out above 290 with high Volume & Open interest in Options, can rise upto 330.
icici is trading inside the raising channel from last march
moving in an upward chaneel, consolidation from 3 weeks, seems we are near breakout. with 276 sl we might go long for 290, 298, 310 target and on.
ICICI Bank 26.2.2017
Buy Stop order
Current Price: 285.25
Entry Price: 301.40
Time Frame: Monthly
Type of Trade:
Long Term Trade
Reason For Trade:
Stock is in an uptrend
In the month of January 2017 Stock has bounced from 50 SMA
RSI has bounced from 20 SMA and RSI is above 50 at around 55
RSI has ...
on day chart double bottom with divergence is in place. on weekly chart at bottom of trend line indicate bullish week for ICICI
short the stock as we can see the dark cloud cover over there and bearish engulfing pattern and price below 8 ema and hence giving bearish outlook
It is been observed on the daily chart that the price action forms a two harmonic patterns.
1. Bearish Crab Pattern
2. Bullish Cypher Pattern
I have covered different harmonic patterns in the educational series which you may find in below attachments.
I shall be sharing an educational post on Crab and Cypher patterns by this weekend for better ...
It is been observed that the price action is overall trending in a uptrend channel with a short correction in downtrend channel highlighted in blue. Now, on the result day it may touch the resistance level at 280 levels or may go down to 260 levels to next support.
Upside: 280 (Resistance)
Downside: 260 (support)
Short ICICI at 260 for a target price of 240/245
It is been observed that the price action breaks out from a downward trending channel on hourly chart, indicating a bullish signal and dominance of buyers on movement of price action. It is also important to notice and acknowledge that the price action forms a V-Shape after a breakout. This V-shape formation also refer to the correction to previous resistance ...
ICICI Bank got corrected in short term but it has maintained its long term bullishness view. It will rise till 285 without any resistance.
As observed on daily chart, there were two harmonic patterns identified on daily chart mentioned below
First: Bearish Bat Pattern - Completed - marked in yellow
Second: Bullish Gartley Pattern - in progress to complete D leg - marked in Green