ICICI Bank began gaining momentum after its Q2 earnings for FY 23-24 in October 2023, starting from a low of Rs. 899. Over the past year, it completed an impulse wave, culminating in the 5th wave as an ending diagonal on December 17, 2024, with a high price of Rs. 1362.35, marking a rally of nearly 463 points.
Following this, ICICI Bank entered an ABC correction phase. It completed Wave A on January 23, 2025 (37 days), with a low of Rs. 1186.00, a decline of approximately 176 points. Wave B formed on February 4, 2025 (12 days), reaching a high of Rs. 1280.50, which is almost 50% of Wave A, a typical Elliott wave correction.
Currently, ICICI Bank is in the process of forming Wave C and could potentially see a low of Rs. 1100.00, targeting at least 176 points before its earnings update on April 21, 2025.
Following this, ICICI Bank entered an ABC correction phase. It completed Wave A on January 23, 2025 (37 days), with a low of Rs. 1186.00, a decline of approximately 176 points. Wave B formed on February 4, 2025 (12 days), reaching a high of Rs. 1280.50, which is almost 50% of Wave A, a typical Elliott wave correction.
Currently, ICICI Bank is in the process of forming Wave C and could potentially see a low of Rs. 1100.00, targeting at least 176 points before its earnings update on April 21, 2025.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.