icici support and resistance, long and short opportunity icici bank is now moving toward support, short term supoort i have marked with red colour which is approx at 883 to 888, if price sustain here and give breakout to upper side, then we can initiate long from here, other wise wait for the price to break this line, after breaking this ling price will come back again at this line and then we will have the move for short, can short the icici from that level.
best of luck
ICBA trade ideas
ICICI Bank Parallel Channel: Swing TradeNSE:ICICIBANK is in a parallel channel, where the current price action is at the bottom of the channel.
So, it' a nice swing trading strategy to buy around 900 and sell once around 960. If sustains above 960, buy and then sell again on 1020. Roughly 120 point range play.
IciciBank ShortIcicibank created a rsi divergence on weekly
It can be a good short candidate , As we all know banknifty is trying its best to move up
so it will a risky trade pls trade with a SL
Its already down around 40 points from top so a bit risky for sure
but if ur risk:reward allows you it can be considered
Imp area to look for is 890
CMP - 910-12
target is marked as soon as ur trade starts moving in ur favour pls start trailing ur sl
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...!!!
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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
ICICI Bank| Rounding & Triple Bottom | Life High |27% UpsideNSE:ICICIBANK
CMP 925 is at Lifetime High
Rounding Bottom, Triple Bottom Breakout.
Price Bouncing above Short Term EMAs which are acting as support in the uptrend
RSI in Bullish Zone in all time frames
Targets : 1020 - 1137 - 1209
Upside : 27%
SL : 810
Time Frame : 3 - 6 Months
N pattern or Flag and pole breakout As you can see in chart NSE:ICICIBANK has given a N pattern or Flag & pole breakout ( Which can be clearly seen in monthly time frames ). Targets are mentioned in the charts .. approx time to achieve target is approx 6-8 months.
Note : For Educational purpose only.
Can this go for a HnS ??Possibly going for a HnS
Entry is possible after breakdown and successful retest
Target of 100 points after retest
Keep this in radar and trade with proper hedging
#Note - The idea is shared for educational purpose and not a trade recommendation, Please trade after consulting your trade advisor. We don't give any assurance of profit or loss.