IBN trade ideas
ICICI BANK - 425 Till July ExpiryReasons 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.
ICICI Bank Ltd (Icicibank - NSE) -choppy to bearish ICICI Bank Ltd (Icicibank - NSE) is within ABC correction, where B wave is within WXY complex correction and Y is in progress as c wave down. It must hold invalidation level of 370.80 to retain the count valid. The target zone of B wave will be 325-20, so stay bearish until it reached. Thereafter C wave up will start moving up.