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ICBA trade ideas

ICIBANK: Swing: 1D 16-Oct'24ICIBANK: Swing: 1D 16-Oct'24 ICICI Bank is trading in a channel (marked) for the last several months and is in a uptrend. ADX is 21 (>20). The ADX slope is -ve but seems like the slop is reducing and will turn positive in the coming days. The stock hit the bottom of the channel on 11-Oct24 with a red candle and then on 14-Oct'24 bounced back with green candle. Ideally the close of the 14-Oct'24 candle should have been our buy price but on 14-Oct'24 the stock was trading below 9 SMA On 15-Oct'24 too the stock continued its trend towards the upper end of the channel and closed above 9 SMA. Will initiate trade on y'days close Entry / Target / Exit ATR = 24.25 (15-Oct'24) Entering long @ 15-Oct'24 close 1255.5 Stop loss = 1 ATR below channel (needs to be monitored as the trade progresses) Target = Close to the top of the channel (needs to be monitored as the trade progresses) Exit criteria = Hits StopLoss || Reaches Target || Price goes below 9 EMA Risk:Reward = Unknown since the target and stop loss are yet to be defined. However, it looks like the it would be a 1:1.67 kind of a trade.
NSE:ICICIBANKLong
by ramanarvind
ICICIBANK // level // 1d ICICI Bank (ICICIBANK), you can follow this structured approach: Support Levels Recent Lows: Identify significant low points in the past weeks or months. For example, if ICICIBANK recently dropped to around ₹800, that could serve as a support level. Moving Averages: Look at the 50-day or 200-day moving averages. These often act as dynamic support levels. Previous Support Areas: Historical levels where the price has bounced can also indicate potential support. Resistance Levels Recent Highs: Determine the highest points in recent trading sessions. For instance, if the stock peaked at around ₹900, that could be a resistance level. Trend Lines: Draw trend lines connecting recent highs to visualize potential resistance. Psychological Levels: Round numbers like ₹850 or ₹900 can often act as resistance. Example Analysis (Hypothetical) Support Level: ₹800 (recent low) Resistance Level: ₹900 (recent high)
NSE:ICICIBANKLong
by SkyTradingZone
ICICI Bank & M_M See Significant Open Interest GrowthICICI Bank The current stock price is navigating through an ascending parallel channel, demonstrating a strong upward trend characterized by a series of higher highs and higher lows. Recently, the price has successfully breached the upper boundary of the parallel channel and is attempting to maintain its position above this breakout level. A significant rise in future open interest—approximately 27%—has been observed for this stock. This increase in both the stock price and future open interest suggests that major investors are optimistic regarding this stock. As long as the price stays above the 1300 level, the overall sentiment is expected to remain positive. Mahindra & Mahindra The stock is experiencing a robust upward trend, consistently achieving higher highs and higher lows. During this upward movement, the price has formed a bullish Pole & Flag pattern. Recently, following a notable breakout accompanied by substantial trading volume, the stock has reached its all-time high. Additionally, there has been a significant increase in future open interest, which has risen by nearly 16%. This growth in both the stock price and future open interest indicates that major investors are confident about this stock.
NSE:ICICIBANKLong
by GoodluckCapital
3
ICICI Bank Ltd - Cup and Handle -DailyThe chart you've shared appears to represent a daily price chart of **ICICI Bank Ltd.**, with several technical patterns and annotations, primarily focusing on a **Cup and Handle** formation. Here’s a breakdown of key components and analysis: ### **Cup and Handle Pattern**: - This is a bullish continuation pattern, indicating the potential for further upward movement. - The "cup" part is formed when the price dips and then recovers, creating a "U" shape. The "handle" forms as a small consolidation after the cup, before a breakout to the upside. ### **Support and Resistance Levels**: - **Neckline (1249 INR)**: This level is marked as the breakout point of the Cup and Handle pattern. The price has broken above this neckline, confirming the bullish pattern. - **High (1272.25 INR)**: This is the most recent high at which the price is trading. - **Potential Target (1342 INR)**: The chart suggests that the price can test this level based on the measured move from the height of the Cup and Handle pattern. - **Volume**: The volume bars at the bottom of the chart show that there was an increase in volume as the price broke above the neckline, supporting the breakout. Trend Channels: - The yellow parallel trendlines show an ascending price channel, indicating that the stock has been in a bullish trend for a while. The price appears to be respecting these lines as dynamic support and resistance. ### **Measured Move**: - There are vertical lines drawn from the neckline to the top of the cup, showing a measured move of **94.20 INR**, or an 8.17% gain, which projects a target of 1342 INR. ### **Volume Analysis**: - The chart shows a spike in volume recently, which is crucial in confirming the breakout from the Cup and Handle pattern. Strong volume usually accompanies valid breakouts. ### **Summary**: - The chart is bullish overall, with the price breaking out from the Cup and Handle pattern. - The measured move suggests a price target of **1342 INR**. - The breakout is confirmed by volume, and the ascending channel suggests the continuation of an uptrend. - As long as the stock stays above the neckline and within the upward channel, the bullish outlook remains intact. This could be a good opportunity for bullish traders if the price sustains its position above the neckline level of 1249 INR.
NSE:ICICIBANKLong
by DailyCharts03
ICICIBANK // Levels // 1 hour "Welcome to SkyTradingZone " Hello Everyone 👋 ICICIBANK on a 1-hour timeframe Trend Analysis Determine Trend Direction: Assess if the stock is in an uptrend, downtrend, or sideways trend by examining the general price direction over the past hour or several hours. Draw Trendlines: Connect recent highs or lows to visually represent the trend direction. An upward trendline connects consecutive higher lows, while a downward trendline connects consecutive lower highs Support Levels: ₹1,215 ₹1,200 ₹1,185 Resistance Levels: ₹1,230 ₹1,245 ₹1,260
NSE:ICICIBANKLong
by SkyTradingZone
ICICIBANK // Levels // 15 min"Welcome to SkyTradingZone " Hello Everyone 👋 Support: Strong Financial Base: ICICI Bank’s solid balance sheet, including healthy asset quality and capital adequacy ratios, provides financial support during economic fluctuations. Diversified Revenue Streams: Revenue from retail, corporate, and investment banking reduces reliance on any single segment, offering stability. Resistance: Credit Risk Exposure: High levels of non-performing assets (NPAs) or potential loan defaults can act as resistance to financial stability and profitability. Economic Downturns: Broader economic slowdowns or financial crises can negatively impact financial performance and increase risks. Resistance Levels: R1: ₹1,245.82 R2: ₹1,259.55 R3: ₹1,275.00 Support Levels: S1: ₹1,230.00 S2: ₹1,215.00 S3: ₹1,200.00
NSE:ICICIBANK
by SkyTradingZone
support and resistance levels for ICICI Bank# we mark Support and Resistance on the charts so you can check.. Pivot: ₹1,208.15 First resistance: ₹1,226.37 Second resistance: ₹1,244.58 Third resistance: ₹1,255.27 Daily support levels: ₹1,098.73, ₹1,091.82, ₹1,084.18 Daily resistance levels: ₹1,113.28, ₹1,120.92, ₹1,127.83 Support and resistance levels are price chart levels that appear to limit the market's range of movement. The support level is where the price stops falling and bounces back up, while the resistance level is where the price stops rising and dips back down.
NSE:ICICIBANKLong
by EmpireCrown