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ICICI BANK LTD

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ICBA trade ideas

ICICI BANK case studyICICI BANK SPOT CMP 917 Chart pattern study Time Frame :- 240 mins Symmetrical triangle pattern formation Bearish divergence on RSI with respect to price Suppy resistance zone around 922-936 levels View gets negated above 945 levels on closing basis Range of 922-936 should be used to exit long positions Fresh investment recommendation above 945 levels Down side 892 would act as intermediate support levels,, which can be considered as pivot levels, If counter falls below this levels, Bullish trend might end and retracement till levels of 842 can be seen. Time to take profits in your investments.
NSE:ICICIBANK
by RUDRA007
ICICI Bank: Chart set up and trading strategyICICI Bank We are looking at daily candlestick chart pattern Observations - ICICI Bank chart reflects it made a gravestone doji on September 15, 2022 (indicates previous buyers were happy to sell at 936 odd levels) - subsequently we saw profit booking in the stock - now the stock is back at 920-940 odd levels - we see ICICI Bank still not making a decisive move above the September 15 high View going forward - so far as ICICI Bank is below 945 odd levels we might see ICICI Bank rangebound - support at 868 / 844 Given the set up one may consider a Bear Call Spread strategy in ICICI Bank Sell 960 Call option currently around 12 Buy 1000 Call option currently around 4 Net receivables 8 points Lot size 1375 Net profit potential Rs 11000 per strategy lot Margin requirement - approximately 93500 Yield Potential - 11.75% approximately Review point for me: If ICICI Bank closing is above 943. It gives ample scope to adjust / exit in case stock moves otherwise. Pls follow your Risk management measures. Take care & safe trading...!!! Like and follow for more trading ideas like these Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - I have been wrong in the past and can be wrong again in future too - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:ICICIBANK
by indiamarketoutlook