ICICIBANK 15MEverything is mentioned on Charts.
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Trade as per your own RISK
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My studies are for educational purpose only.
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ICBA trade ideas
ICICI Bank has formed double top in weekly time frameThis chart explains that ICICI Bank has broken the mid-point (support) and formed a double top pattern and got activated by breaking the support line in Weekly Time Frame
However nothing to panic as the next level of support is very near by and it is a short pattern. Unless it reverses and closes back above 950 this pattern will be valid.
If the pattern continues then the target range will be 922 - 915
Time to Exit - ICICI BankOne complete set of moves is almost done or may be just about to.
This is tripple correction combination which is WXYXZ starting from corona lows.
The bulls should be careful from here, as it should soon be starting wave counts to the downside.
Time to exit or atleast book profit and lets wait for a decent correction.
Will update as and when required.
Stay Alert...!!!
All the best..
ICICI BANK target 1000 - 1045 11.09.2023ICICI Bank is looking bullish with following factors
1. RSI on weekly and Monthly time frame is above 60
2. Narrowing Bollinger Bands
3. Price above 20 SMA
4. Major support at 930-948 levels
One can look to buy with dips with SL below 930 and target 1000- 1050
Disclaimer: I am not an expert I just share interesting charts here, Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
ICICI Bank 1hrs time frame EWT AnalysisICICI Bank EWT Analysis
Validation level 941.25 dated 12.07.23
Minor degree 1 from 941.25 to 1008.70, subdivided by minute degree ((i)) ((ii)) ((iii)) ((iv)) ((v)).
Minor degree 2 which is corrective wave subdivided minute degree ((w)) ((x)) ((y)) which is
double combination of corrective wave which is called double correction of
(a) (b) (c). It does not break starting point of Wave 1. (price 941.25) and double
correction is up to 85% range (price 946) of wave 1.
Minor degree 3, I anticipate minimum 100% up tp 1040.
Minuette degree validation level 946 dated 18.08.23.
Minuette degree wave (i) completed from 946 to 982.40, dated 24.08.23
subdivided by subminuette degree i ii iii iv v.
Minuette degree wave (ii) is corrective wave (w) (x) (y) completed 85% of wave (i)
price 950.80. It does not break wave (i).
Wave (w) is Regular flat a b c.
Wave (x) is link wave
Wave (y) is Zigzag a b c
Minuette degree wave (iii) I anticipate minimum 100% or 1.618% (price 987- 1010)
key level 970 falling trend line or b point of zigzag
Thank You
Disclaimer
it is my personal research before taking any trade please advise your financial adviser. I am not SEBI Registered Financial Adviser.
ICICI Bank 958.2 is the perfect entry
Weekly chart is showing that all the 5 waves of previous cycles have been completed; and thereafter counter waves AB&C have taken base at the impulse drawn in white.
High of the sub wave 3 is 958.2. There are still two days remaining for the week to end. Structure at the lower levels is not yet bullish. Market may make a quick move in the beginning. Please refer to my previous discussions on this stock. Link provided.
Dont get trapped; mark yesterdays high and then only buy.
I am not a SEBI Registered analyst. Please consult your financial advisor before making a decision.