ICICIBANK has taken support near 264 which is its earlier resistance area and has formed morning star pattern. It needs to close above 272 for confirmation for trend reversal. It it sustains above 272, then 300 looks possible. Below 264, pattern failure.
Symmetric Triangle and as price on Demand Zone - ICICI Bank.
Trade:
Long Entry - 296 above and Targets - 301.50 / 306.50 & SL - 290
Short Entry - 287.50 below and Targets - 281.50 / 275.50 & SL - 293.50
Note - Price is lying on Demand Zone. So, I am personally suggest to not go Short side until the demand zone get broken completely.
The stock should potentially break out from its level and reach target of 280 . MACD shows a clear break out signal along with stochastic confirming a bullish trend.
Icici bank is approaching near weekly support.
It has retraced 0.618 of previous up swing at around 269.
It has not made a new weekly low after that , however it has not crossed previous week's high.
One can create a positional trade entry with the stop loss of 265 where channel support is placed.
Safe traders can enter once it crosses above 282.
CMP 273.80
The stock has an important support around 268
Momentum might be seen on sustaining above 276.
The stock can be looked for target of 282 / 286 on the long side
Take care & safe trading...!!!
ICICI is on a bood or doom mission
taking support at a very strong base trend line. Witness a high income trade in a day or 2
Sell below the trend line (290) for a target of 270 or below.
Buy above 295 for target of 302 / 312 in a few days
Icici Bank
Cmp 295.5
Since May the stock is hovering around the upper end of the trendline.
There is no clarity emerging as to what the stock wants to do go up or down.
So we wait for the stock to come near 280 and give signs of holding that level or go above 312 for any buy signal confirmation.
Below 280 the stock May get in to weaker zone. Till then it's a ...
