Positional_ ICICI BankICICI Bank looks good for a positional/swing trade.
Buying above Rs 642, SL Rs 629.50, Target to be updated soon.
Disclaimer: The views expressed in this article is of my own. You're solely responsible for any decision taken in the markets, resulting in financial gains or losses. The analysis I've shared is for informational and educational purposes only.
ICBA trade ideas
ICICI Bank - Bullish
1. Please refer to my yesterday's Live Market Analysis on ICICI Bank where I recommended a buy; above 924.5.
2. The logic is that it is swing level of 25% on hourly chart.
3. Here, a trend line has been drawn is white on the weekly chart which is clearly showing up move of the stock here.
4. Also drawn is a copper line which is showing target line of the stock is future.
5. Also provided are the price swing levels.
6. Now, if you remember on ideas for some other stocks, I mentioned that pivotal candle for Indian market is 11-21-23 9:56 AM. ICICI Bank made base exactly from there and ran above.
(Before I discuss any further, please note two things about timings: (a) Your trading -view timing should be set to UTC+5:30, (b) Whenever a one minute candle is recommended, that is 100% accurate level, then why candles move up and down after that, could be your question in mind, the reason is that at that level stock may not be in perfect over bought or over sold condition; and secondly moving average curves may not be in perfect position; so, it takes up to three hours for price to settle at that price).
7. Now how to trade it? Please open 1 minute chart and apply 8, 20, 50. 100 and 200 SMAs. If moving averages are in perfect order at that time it good, else wait for the level to be formed on this candle and 200 SMA to come above the high of this level. For practice purpose, please open yesterday's ICICI Bank Chart in 1 minute and check. Similarly, it should be in reverse order, if a sell time candle is recommended. For practice, you may use HDFC Bank Chart.
8. How to trade today? (a) Price should remain above yesterday's 9:56 a.m. Candle, again it should not break yesterday's candle of 2:22 p.m. candle and today's important candle is 12:32 p.m.
Disclaimer: I am not a SEBI Registered Analyst. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits/losses. This is only for educational purposes.
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ICICI BANK ( Looking to invest 💥)Add this to watchlist and wait for entry.👁️🗨️
For short term investment ;
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Wait for small retracement & daily candle to close above - "972" .
Trade carefully untill ENTRY level.
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Entry: 972
target: 975 - 985
sl: 965 -960
major stoploss/ support: 960
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Enter only if market Breaks
"Yellow box" mentioned.
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Don't make complicated trade set-up.📈📉
Keep it " simple, focus on consistency "💹
Refer our old ideas for accuracy rate🧑💻
Follow for daily updates👍
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Refer over old posted idea attached below.
ICICI Bank
Support for ICICI Bank has been marked with copper lines along with corresponding price tags.
If this is not broken, buy with confidence and further swing levels have been provided on the chart itself.
Disclaimer: I am not a SEBI Registered Analyst. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits/losses.
ICICI Bank
You can vouch that recovery came exactly from 1:35 candle yesterday, now treat it as support and expect more. Price Levels are:
Sell Below and Levels 884.07 869.26 854.58 840.03
Buy above and levels 902.75 906.51 914.05 929.23 944.53 959.96
Disclaimer: I am not a SEBI Registered Analyst, it is only for educational purposes. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits/losses.
ICICI Bank - Update 2
1. Closing of 10th October 951.2.
2. Closing of 13th October 951.3.
3. Closing of 16th October 951.4.
Means there is gradual increase in closing as well.
Index parent (Bank Nifty is also following almost same pattern),
Levels of Gann Circle
945, 952, 957, 960, 961.
means if 945 is not broken, there is nothing to worry. since lows of last two days are above this; should not be a problem. Swing lovers can adhere to these levels also.
961 is the major hurdle.
To repeat candle to watch is 10-18-23 10:39 AM. Please check update 1 as well. Link provided.
ICICI Bank - Update
Please check the data reflected on the chart.
1. Today's low was 946.15 which is higher that highs of 5th and 6th October.
2. Today's close is also above these levels.
(Means it is making higher lows as shows by grey curve in the graph and marked by white horizontal lines in the chart.
3. However, the price is stuck up between two trend lines, one from below and the other one from top. Making a triangle pattern.
4. Price is below 200 moving average in 1H as shown by 200 SMA of white color.
Please refer to my previous discussion on this stock as well. Link provided
Conclusion: Though, it is making higher lows but higher high has still not be broken. You may observe, that Options written on Friday are rarely changed till Tuesday therefore, bears are still having the control and not willing to let it go above 200 moving average; though gradual bullishness is coming into Play.
Important: 10-18-23 10:39 AM candle in one minute chart it going to play a major role. Mark high and low of this candle on Wednesday and find amazing results. Buy above this candle only.
ICICIBANK Long Opportunity (Inverted HnS formation)ICICIBANK is forming an Inverted Head and Shoulder pattern on hourly timeframe. The stock has bounced off it's lower longterm trendline and now has formed a range. We can expect the price to test the ATH Levels after breakout. Above this level, the stock will also cross above 50 MA on Daily timeframe so that gives more confidence.
Stop Loss: SL for this trade has to be 936
Entery: Entries can be made once the price crosses and closes above 962 at least on a 30 min TF. You can also wait for retest of the resistance for better risk reward.
Target: Targets can be 1000+ & New ATH
ICICI Bank Break out
For the purpose of ease of understanding of every one of us, I have not depicted Elliot Waves but just to mention that ICICI Bank has crossed it previous waves and is ready for the next move. Two Triangles have been drawn, one with Purple Color and the other with White. Purple triangle has been crossed and it has entered into white triangle. Drawn are two parallel trend lines to give you a better idea. Ist major Target is 986.85. However you may see that it is just below 34 EMA. So, wait for the proper levels to come.
Todays candle of 10-12-23 12:53 PM is going to play a major role. Please mark high and low of this candle and act accordingly.
I am not a SEBI Registered Analyst. Please make any decision in consultation with your financial advisor. I will not be responsible for any of your profits or losses.
ICICIBANK 15MEverything is mentioned on Charts.
Wish you Happy & safe Trading.
Trade as per your own RISK
Please Note:
I am not SEBI registered analyst.
My studies are for educational purpose only.
Please consult your financial advisor before Trading or Investing.
I'm not responsible for any kinds of your Profits & Losses.
ICICI Bank has formed double top in weekly time frameThis chart explains that ICICI Bank has broken the mid-point (support) and formed a double top pattern and got activated by breaking the support line in Weekly Time Frame
However nothing to panic as the next level of support is very near by and it is a short pattern. Unless it reverses and closes back above 950 this pattern will be valid.
If the pattern continues then the target range will be 922 - 915