ICICI Bank turning Bullish - Expecting Target of 530--550

ICICI turned super bullish from this point as RSI taking support at 60.00.

Bullish Harami Candle forming on daily chart, break and sustain above 480.00 will take it to 520 and then to 530--550

We can enter ICICI Bank with Bull Call Spread.

Bull Call Spread on ICICI Bank

+1x 31DEC2020 480CE - ₹ 23.65
-1x 31DEC2020 530CE - ₹ 7.25

Max. Profit - ₹ +46,200
Max. Loss - ₹ -22,550

Max. RR Ratio - 1:2.00

Breakeven - 497.00

Estimated Margin/Premium - ₹23,000-- ₹25,000

Trade closed: target reached:

Initial Target of 520++ achieved.