ICICIBANK - Elliott Wave Count the market looks like its near the top and soon we can expect the reversal downside to Wave A correction.its recommended to wait for the price to comes back & close inside the channel to confirm the bearish scenario to take short trades. whatever the high made on wave 5 will be the SL for the short position. Please note that this...
the stock is near its trendline break... today a strong bullish momentum is observed in this stock.... Rally base rally is observed from 965-962 zone...tomorrow if this zone acts as price is bullish... this time will breaks the trendline and moves higher... liquidity also lies above these zones.... Go for long in this stock...
The stock is trending downwards.... price is now near to a strong, a strong rise is observed from this area.. If it is a bullish turn price will take the support from this area... then look for buy side.... If this area pushes the price upside...we will on long side until the Bearish Gap be filled. again will look for sell at Bearish Gap or trendline. Look for...
Observations:: NSE:ICICIBANK ------>>the stock is trending upwards in daily time frame. ---------->> now the price is trading @all time high ----------->> now we have to look at this stock ,If price breaks this resistance or not, if price breaks and resistance acts as support, we will observe new highs. now the stock is looking weak in buy side, if it will...
The stock price is trending upwards it is said to be bullish again from 900 level, Observe reaction at this level in lower time frames like in 15 min and enter long. price again wants to test the demand zone @ 910-900 range. Price is facing Some resistance in the range 950-960 range. if the price breaks 935 range gives some pullback enter for short.
ICICI Bank level of 826 has acted as a support and on the daily TF there has also been a healthy pullback to 866 level now the stock price is all set to move to the upward direction. You can open a position here for long and aim for level of 956.
Long above 864. T1 - 885, T2 - 907.75, T3 - 950, T4 - 992.15 ……. SL - 820 Short Below 778. T1 - 759, T2 - 745.05, T3 - 734, T4 - 694.50 ……. SL 802
ICICIBank is the first bank to reach its ATH, since 900 is a round level, I expect the stock to hover around the 900 levels for a day or 2 before it goes further higher.
When it comes to the technical analysis of ICICI BANK, you might get an impulse to the downside. Based on my analysis, you might see a drop to the downside. If you are going in, better find a pullback. I have marked a good entry area on the chart; you may use it as an entry area. And also don't forget to place the stop just above the entry area. What do you...