ICICI bank already given breakout of weekly resistance currently at daily time frame resistance once broke out we could see next FIB level as market promising for bullishness after breakout and retrecement i feel it can be long with safe SL of retest support level.
SOURCE : Weekly Demand
Destination : Weekly Supply
Confirmation : Daily
Trade : Daily
Price has reacted to a Fresh Weekly Demand and has headed towards the Fresh Weekly Supply and we have a Price giving confirmation in Daily chart and we have a Potential Demand formed in Daily which has a good reward to risk ratio to offer.
ENJOY THE RIDE ! ! !
icici Lombard is great company, gaining its market share form lic ltd. it had corrected a lot, and i have drawn the waves for the future. it will be reaching its previous trend line comtinuing padt from the corona(drawn in the chart), so it will have a impulsve wave from my analysis point of view.
ICICILOBARD seems bullish from here
1. Breakout from falling wedge
2. teken support from important level
3. RSI shoing positive divergions
4. taken 200 EMA support
ICICI Lombard is at good level, now trading in a range and waiting for breakout. Safe trader can wait for breakout above 1529 for long trade. Short term stoploss is any two consecutive close below 1440
Resistance:
R1: 1513.18 R2: 1524.70 R3: 1536.23 R4: 1547.75
Support:
S1: 1444.03 S2: 1432.50 S3: 1420.98 S4: 1409.45
Disclaimer:
The views provided solely for...
I'm not an expert I'm just sharing my views on ICICI LOMBARD for next trading day
I'm not responsible for any profit or loss this is not a recommendation.
