ICICIBANK (spot) - Diamond PatternICICI bank spot daily time frame fund Diamond pattern... Entry exit levels mentioned in chart
ICICIBANK trade ideas
ICICI BankThere is breakdown after a consolidation and stock seems weak. Stock is recently rejected 52 week high which is another sign of weakness in stock
we could see further down side move in near term.
Channel BreakoutThe channel is a powerful yet often overlooked chart pattern and combines several forms of technical analysis to provide traders with potential points for entering and exiting trades, as well as controlling risk. The first step is to learn how to identify channels. The next steps include determining where and when to enter a trade, where to place stop-loss orders, and where to take profits.
Script = ICICI Bank
Time Frame = 1 DaY
Capitalizing on Relative Weakness: Short ICICIBANK Long Nifty 50Introduction:
In the dynamic world of trading, identifying relative strengths and weaknesses among stocks and indices is crucial for maximizing profits. This idea focuses on the underperformance of ICICIBANK compared to the Nifty 50 index. By analyzing the daily charts and employing a ratio chart, we can spot a potential opportunity for a pair trade. This write-up aims to provide an analysis of ICICIBANK's current trend, its ratio to Nifty 50, and how traders can profit from this relative weakness.
Section 1: Understanding the Ratio Chart
To gain further insights into ICICIBANK's relative performance, let's examine the ICICIBANK/Nifty 50 ratio chart. This ratio chart compares the price performance of ICICIBANK to that of the Nifty 50 index. By analyzing this chart, we can assess ICICIBANK's strength or weakness relative to the broader market.
The ratio chart reveals a broadening wedge pattern breakdown. This breakdown suggests a bearish outlook for ICICIBANK, indicating a potential continuation of its underperformance against Nifty 50. Additionally, the ratio has been consistently trending within a downtrend channel, emphasizing ICICIBANK's persistent weakness compared to the broader market.
Section 2: Pair Trade Strategy
Based on the technical analysis of ICICIBANK and the ICICIBANK/Nifty 50 ratio, a pair trade strategy can be implemented to capitalize on ICICIBANK's relative weakness.
The pair trade strategy involves simultaneously shorting ICICIBANK and going long on Nifty 50. By shorting ICICIBANK, traders can profit from its anticipated further decline, while being long on Nifty 50 allows them to participate in the potential upside of the broader market.
It is crucial to effectively manage risk when implementing this pair trade strategy. Setting appropriate stop-loss levels based on ICICIBANK's volatility and the overall market conditions is essential. Additionally, continuous monitoring of the ICICIBANK/Nifty 50 ratio is necessary to assess any changes in relative performance and adjust positions accordingly.
Conclusion:
The current technical analysis of ICICIBANK, along with its ratio to Nifty 50, suggests a bearish outlook for the stock. Traders can consider implementing a pair trade strategy by shorting ICICIBANK and going long on Nifty 50, capitalizing on the relative weakness of ICICIBANK compared to the broader market. One has to closely track the above ratio chart for the stop and target level for the pair trade
ICICI Bank rounding pattern breakout & retestICICI Bank give breakout of rounding bottom & then retest it. Now a new high possible if give breakout of trendline & major 960 resistance of life high. Watch carefully thanks
icici bank sideways zonesNSE:ICICIBANK is moving sideways on major timeframe, keep an eye on the support zone as icicibank approaches it once again, if breaks, we might see icicibank tiuching last support level and may start falling after breaking it
ICICI BANK Short OpportunityICICI BANK SHORT (Hourly Chart)
Short below 934
Targets: 925/911
SL: 939
- Tight Consolidation of one month.
- Descending Triangle Pattern in Hourly tf.
- Weekly Resistance Reversal
- Consolidation and distribution phase near All-time High (ATH).
- Breakdown Below 200 EMA (hourly) and close below 934 will trigger a quick sell-off.
ICICI BankUmbrella Break out , it looks .
Slow consolidation
God Knows what this stocks wants
Thought support is maintained
icici banktoo much consolidation. it will break down.
see the target and stoploss. time line within 2 days
ICICI 1H TF Personally waiting for shorting if Indices support the trend. Suggest you the same and wait for 30 mins or 1Hr candle close.
Please do follow me for more such trades
ICICIBANK - Eye on thisICICIBANK consolidating between 935 to 960 from the last month. I am expecting it may give a break out soon.
Expecting a violent move Icici Bank is at ATH as well as forming a very good tight range in daily chart. On the breakout of the range we can expect a good move.
ICICIBANK - EW - Short time correctionStock is trading in Impulse on Major (Weekly and Monthly) Timeframe.
Currently, trading in a short-term correction. Retracement levels are marked on the chart.
4 wave of Major 5 is going on.
Expected to complete short-term correction in max 2 weeks and again start up move.
The analysis is only for educational purposes. Please trade at your own risk
Icicibank 1htf wait for breakout Icicibank 1htf
Beautiful pattern
Stock is at resistance
Wait for breakout
ICICI Bank Cmp 877 H&S Pattern & Trendline BOICICI BANK Cmp 877 dated 31-3-2023
1. Trendline BO @ 878
2. H&S Pattern BO @ 870
3. RSI on verge of BO
Buy above 880 for target 900-915-925 SL 860
It is just a view, please trade at your own risk.
Short ICICI Bank . Target 925, 900Positional targets as told. Icici bank is a shorting opportunity right now rather than a long opportunity. Broken lower trendline already .
ICICIBANK CUP Pattern Breakout on Daily ChartsICICIBANK CUP Pattern Breakout on Daily Charts - Targets 1140 in next 2-3 Months.
LTP - 958
SL - 920
Targets - 1140+
Time frame - 3 Months
ICICI BANK Loking for a bullish!Hey guys 👋
ICICI BANK rounding pattern break.
entry-955-960
target-1100-1115
ICICIBANK to take long entryICICI Bank is in a strong uptrend. Look on every 50 EMA stock bounce back to move upwards. Now the stock is in the consolidation phase. Once clear BO above the resistance area above 946 with SL of 935. levels of nearly 1000 can be seen soon in the coming days. We can do Pyramiding trade on every 50 EMA level touch. This is for your educational purpose only.
If U want to trade right see leftIt is often said - "History does not repeat, it rhymes"
Price is making a rising wedge pattern similar to the earlier one (on the left side).
It has also reached the previous resistance.
Q - > Will the next move be similar ?
A - > Not sure right now, but indications of being extra cautious are popping up as the days go by
Indications -
1. The steepness of the rising trendline support - such steep trendlines do not hold for a longer time and normally the support give away
2. Price has developed Bearish divergence with the momentum indicator right at the resistance level
So, at least as a trader we need to keep ourselves close to the exit door.
Happy Trading !
