Key Reference Points for Icici Bank Futures for tomorrow i.e. 7th Aug 2022.
These Reference Points can help one to initiate or exit a trade.
I am not Sebi registered.
This is for education and research purposes.
ICICIBANK is trading is trading near Trendline resistance levels, And a negative (bearish) Candle formation is seen around Trendline resistance zone, Hence I would like to take a short position in ICICIBK Future around 783-784 SL 795 and Targets Expected are 760/ 740 in next 2-4 Trading sessions
Buy NSE:ICICIBANK1! at 760 with SL of 740, look for 800,820
Result was good marked by low in stock. if any rally comes in Bank nifty, ICICI should lead way up.
ICICI BANK LTD. has taken support of the major support zone.
It is a good Buy around 708-720
It can be added for Investing purpose as well as trading purpose.
Targets - 736
763
789
ICICI Bank is at top end of the channel and made a nice red candle, hence might be short term top if does-not break today high.
Hence good shorting candidate with minimal stoploss.
this is the hourly chart of icici bank futures
there was a strong supply zone made on the 21st of December (marked) and it was respected this morning when the markets corrected as well. it also does resemble the bullish double bottom pattern and it happening in the hourly timeframe could be a strong signal.
I connected the dots to find that the chart might be...
Cup and Handle pattern and currently given breakout in Descending Channel pattern.
-Stock break and sustain above 651 Next level to 665/680/700/720 levels .
-Support is near 620 level on chart.
NSE 
