ICICIBANK - Elliottwave analysis - Buy set up ICICIBANK - It is in ABC zigzag up move from last bottom in 30 min time frame, which is probably start 4th wave of C soon. Buy near 389 for target above 410 or slight higher. stop loss should be below 382.80 for the trade, because below this price level it turns bearish.
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ICICIBANK trade ideas
ICICIBANK 1HRBEARISH Crab@1.618XA..Crab will also give reaction from 1.902XA
Ultra high volume up bars - trap of Smart Money , Higher volume- Professionals are selling into the public buying
Horizontal BLACK DOTTED lines r High & Low of ULTRA HIGH Volume CANDLE .Vertical dotted line is ULTRA HIGH VOLUME i.e SMART MONEY
ULTRA HIGH VOLUME for going SHORT we need LOW VOLUMES in the area of ULTRA HIGH VOLUME BAR.
with Confirmation from RSI BELOW 70 & with Bearish Candle with LOW VOLUMES & With No Demand
POTENTIAL SELL
ICICIBANK 4HRBEARISH shark..whenever price entered zone strong rejection
Ultra high volume up bars - trap of Smart Money , Higher volume- Professionals are selling into the public buying
After getting confirmation with a Bearish candle and RSI below 70 & with LOW VOLUMES then set up becomes valid
POTENTIAL SELL
ICICIBANKIF IT SUSTAINS 379-380 THEN 385 388 AND 395 CAN BE SEEN ON UPSIDE.....
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Hi all,
Its pleasure to have you all here.
I have started putting these charts as a contribution from my side to all people who are new to business, as I had to struggle a lot without any sources at disposal. So please consider this a just small contribution from my side.
Few Honest Disclosures:
1. Any idea shared is my personal view, its not a recommendation, neither any kind of paid propaganda, so please
do your bit of research.
2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all.
3. I expect no comments or like nor any negativity, as I said its just a small helping hand from my side, please plan your risk and trade as per your capacity.
4. To trade in Cash, options or futures is your sole choice and your own risk
5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results.
6. I work for my own living, this is a hobby which I do sincerely to help anyone who might come across my charts.
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LONG OPPORTUNITY !!!There is a long positional opportunity in icici bank ...
1) at a 15 min time frame there is a formation of decending triangle,its breakout may signal an upward movement
2) IF 50 EMA closes above the moving average its again signal for buy
3) A BULLISH ENGULFING pattern or bullish candle at the stucture zone is 100% confirmation for long.
NOTE: Trading is all about playing with probabilty along with skills, knowledge,and proper money management. NOONE is 100% sure in trading .