Banknifty is looking similar to Nifty . A double top and RSI diversion too.
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 - ₹...
ICICI Bank is in strong uptrend and my personal view on ICICI Bank is bullish medium to long-term. However, you can expect correction soon. So, for swing traders and investors correction may provide you an opportunity to enter. That's why you need to know from where ICICI Bank might bounce back. So, I draw key diagonal Support and Resistance level. Wait for these...
The impulsive move up is complete, now i expect a corrective structure downward or an impulsive structure downwards. The good thing is both forecast are pointing south.
This analysis is purely based on price action and Chart Patterns. The analysis is on 15min TF hence target can be achieved in intraday trade or in couple of days Trade logic with SL and Target is explained in image itself. Don't chase the price. Always plan your trade & trade your plan Check the idea of ICICIBANK Bull Flag Pattern Breakout on Daily TF linked...
POSSIBLE SHORTING OPPORTUNITY IN ICICI BANK WITH THE ABOVE STATED PATTERNS. NOTE : POSSIBLE NOT GUARANTEED* ALTHOUGH I AM ALREADY LONG IN ICICI BANK, IN CASE THE BULLS LOSSES THE BATTLE, I KNOW BY HOW MUCH IT GONNA MAKE A POSSIBILE DIP SO I AM CALM AT THE MOMENT :D
One can go long or short above/below levels shown...tgt can be either of support / resistance lines
ICICI PRU LIFE LONG TERM TARGET GIVEN IN CHART TAKE ENTRY WHEN CLOSE ABOVE ENTRY POINT 2 TARGETS ARE GIVEN WHICH IS EASILY ACHIEVABLE .
This analysis is purely based on price action and Chart Patterns. The analysis is on 15min TF hence target can be achieved in intraday trade or in couple of days Trade strategy is explained in image itself. Don't run after the price. If prices gives big breakout/breakdown, dont rush in trade. Always plan your trade & trade your plan Keep trailing SL accordingly...
Price coming up against trendline. So A short position could be initiated in this counter. SL @ 432 Target 372
Targets 416/420 Main Stop Loss at 397 *Disclaimer : I just shared my view. Please trade with your comfortable and own ideas.
This analysis is purely based on Price Action. Target may reach in intraday trade Trade Strategies are shared in image itself with proper Entry level, SL and Target level *Trade on your own risk and money management* ALWAYS PLAN YOUR TRADE & TRADE YOUR PLAN Feel Free to comment for any queries or suggestions
ICICIBANK DAILYCHART BREAKOUT (ON 9-10-2020)