ICICIGI: Weekly Triangle Squeeze | Explosive Move Expected Soon

BUY Setup 🛡️
Entry: ₹2,040-2,050 (Current Level)
Target 1: ₹2,080-2,100
Target 2: ₹2,150-2,180
Target 3: ₹2,250+ (Extended - Post Breakout)
Stop Loss: ₹1,975
Technical Rationale:

MAJOR PATTERN: Symmetrical Triangle forming on Weekly chart - apex approaching
Trading at upper boundary of triangle - breakout imminent (marked "2d 6h")
Strong +2.32% gain today showing bullish momentum
Volume at 11M - showing increased participation
Price testing critical resistance at 2,000-2,050 zone
Multiple convergence of trendlines creating decision point
RSI around 60 - neutral to bullish zone with room for upside
Trading above EMA on higher timeframes
Insurance sector showing relative strength
Triangle pattern spanning 6+ months - significant breakout potential
Support at ascending trendline around 1,975

Risk-Reward: Excellent 1:3+ ratio (much higher if triangle breaks out)
Pattern: Symmetrical Triangle on Weekly Chart - one of the most powerful continuation patterns. Breakout from 6-month consolidation could trigger massive move.
Strategy:

Conservative: Wait for weekly close above 2,060 with volume for confirmation
Aggressive: Enter now with SL below triangle support at 1,975
Book 25% at T1 (2,090), 25% at T2 (2,165), hold 50% for major breakout target 2,250-2,300

Key Levels:

CRITICAL Breakout Zone: 2,050-2,060 (triangle apex)
Strong Resistance: 2,000-2,050 (current battle zone)
Extended Targets: 2,250, 2,300+ (measured move from triangle)
Major Support: 1,975 (triangle support), 1,900

Timeframe: Weekly chart - suitable for positional/swing trading (weeks to months)
Triangle Measured Move: If breaks above 2,060, target = 2,300+ (height of triangle added to breakout point)
Volume Watch: Need strong volume on breakout for confirmation


Disclaimer: For educational purposes only. Not SEBI registered.