ICICI Bank after false breakout in July seems like at breakout but not sure if it can rally like mid cap stocks.
Posting my idea so that we donot miss out any chance of rally. It also got some volume indicating breakout.
add an alert at 375.
Reasons to go long:
1. One of the best stock in the banking sector
2. In market recovery after COVID, most likely to lead Banknifty along with HDFC
3. MACD Crossover
4. Broke pattern of lower lows since last 3 weeks
5. Even in the cross border tensions & Corona second wave fear, this is keeping higher highs in 2nd week of June.
$ISEC #ISEC Chart suggesting multiple bullish views. A nice elliot 5 wave pattern seen, bounce from 0.61 FIB, the red line showing bullish divergence, positive Q2 results, the black trend line showing uptrend intact and a bullish golden cross of 50x200 dma. my T1 335ish, T2 350ish and T3 390ish. A perfect positional long setup IMO.
ICICI BANK Now Bearish Use SL and take profit and exit
You Can Swing Trade in ICICI BANK With remembering these SUPPORT and RESISTANCE Levels.
if cames any good news for banking sector then you can some good movement otherwise Trend is turning into Bearish Mode.
Banking sector is not Right Time For investment wait some Years.
Learn Here , Earn...
MARKET ANALYSIS: The pair is now trading near the head and shoulder pattern, neck line support. If the market is able to break the neckline we can expect a huge downward fall towards the next support level at 225 level. So lets wait and see what the market does in the coming weeks. Cheers!
Publishing ICICIBANK gann square analysis for near future, we are near 45 degree line which is very important line, trend can change at or above this line. have marked history for reference. price seem to respond perfectly to gann arch and lines.
Traders can use this published idea to do further analysis of price...