Breakout of Channel patternICICI has JUST POPPED out of the channel....and today 23rd Oct was the quarterly (Q2) earnings results of the bank....the bank has posted a 30% growth from same time last year - PAT grew to 5511 crores and more importantly outperformed Nifty Bank which grew 21% in the same period...another significant thing - Non Performing Assets ( NPA) is lowest since 2014...which is all good news but we have to wait and see how market reacts to this news...as we know when results are poor the stock shoots up and when results are good the stock does not find favour with the market makers...let us wait and see its opening on Monday. Targets are not marked but f it opens with a gap up then 792, 1016 are the long term targets.
IBN trade ideas
icici's current action icici's current action
Safe playing should be there only
Minor targets but achievable
Buy with good quantity.
Only triggered if everything is good.
ICICI Bank Ltd. 22.91% weightage IN BANK NIFTY
Icici's current action safe playing should be there only minor targets but achievable buy with good quantity. Only triggered if everything is good. Quarterly results snapshot (standalone) - Jun '21 - qoq interest earned - qoq
Long in ICICI BankThis scrip had broke the supply zone, hits an All Time High and took a retest in the supply zone as well as in Monthly CPR. I do expect a bullish move in this scrip in coming weeks.
I do recommend this scrip for Swing traders who may hold this scrip for some weeks. Do follow strict risk management and maintain pre determined SL and Traget as nowadays many scrips are at breakout stages. Do pick scrips wisely.