ICICI BANK- HEAD & SHOULDER PATTERN BROKEN, SHORT TREND STARTED
good placed definatly go down after taking resitance
Sl compulsory
Open Short position TP 407 Target 394, 380 SL 420 (should close above). If your idea matches mine open short, I will keep you posted as price moves. Please, take a second and support my effort by hitting the "LIKE" button, that’s the only fee from You!
ICICIBANK / NSE / Indian Stock Market
After its strong results, the stock could not perform due to weak market conditions in the last many weeks. It has been in a sideways consolidation It is now attempting to build another leg up . Buy abv 422 with stops at 410 for target of 438
If the stock flies past 422, it will face a stiff chikou resistance at the kijun 425... beyond that till 429 will face the cloud... Looks good till that from a momentum point of view, may all movements come swift... Long can be only beyond 429 after a re-test at the cloud... The weekly ichimoku doesnot indicate anything otherwise, which is good..
Daily Chart Observation Point no.1-Resistance– Previous swing high resistance. 3 times, price reverse from this area. Point no.2- Support– Previous swing low support area. 2 times, price bounce back from this area. Point no.3- Rectangle Chart Pattern.– Price is trading in the range formed the rectangle pattern. Conclusion From the above chart, it is clearly...