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ICICI Bank turning Bullish - Expecting Target of 530--550
ICICI BANK LTD.
Long
ICICI Bank turning Bullish - Expecting Target of 530--550
By RahulPrajapati
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Updated
Dec 16, 2020
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Nov 24, 2020
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 - ₹ +46,200
Max. Loss - ₹ -22,550
Max. RR Ratio - 1:2.00
Breakeven - 497.00
Estimated Margin/Premium - ₹23,000-- ₹25,000
Dec 16, 2020
Trade closed: target reached
Initial Target of 520++ achieved.
bullcallspread
derivative_analysis
ICICIBANK
Oscillators
Stocks
stocktrading
Trend Analysis
RahulPrajapati
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