ICICIBANK trade ideas
ICICIBANK : Bearish in upcoming days ?www.tradingview.com
ICICIBANK : The chart clearly shows non-sustainable after making its aggressive 52W High. Reversed with divergence at price as well as at RSI level on Daily time frame.
Further on chart, it is making Rising Wedge which again depicts the bearish trend. Further down, there is an opened gap between 950-960. A little down is the Point of Control of volume where most of the recent time it has spent. The Point Of Control attracts the price to its side.
If it doesn't revert from Point of Control, it can further go down at 925 level to take some breath because that is the edge of the Rising Wedge pattern. That is where there is a chance of reversal to become bullish again.
ICICI BANK S/R for 26/12/23Support and Resistance Levels:
Based on the price action, you have to identify two significant levels: the red line acting as resistance and the green line acting as support. Additionally, there have marked red and green shades to represent resistance and support zones, respectively.
Support: The green line and green shade represent support levels. These levels are where the price tends to find buying interest, preventing it from falling further. Traders can consider these levels as potential buying opportunities.
Resistance: The red line and red shade represent resistance levels. These levels are where the price tends to encounter selling pressure, preventing it from rising further. Traders can consider these levels as potential selling opportunities.
Breakouts: If the price breaks above the resistance zone (red shade) convincingly, it may indicate a bullish breakout, and the price could move higher to the next resistance level. On the other hand, if the price breaks below the support zone (green shade) convincingly, it may indicate a bearish breakout, and the price could move lower to the next support level.
Keltner Channel:
The Keltner Channel is a technical indicator that uses an exponential moving average (EMA) to create an upper and lower channel around the price action. Traders can use this channel to identify potential long and short positions.
Long Position: If the price is above the upper line of the Keltner Channel, it may indicate a potential long opportunity, as it suggests the price is trading above the average range and might continue in an upward trend.
Short Position: If the price is below the lower line of the Keltner Channel, it may indicate a potential short opportunity, as it suggests the price is trading below the average range and might continue in a downward trend.
Disclosure: I am not SEBI registered. I just wanted to let you know that the information provided here is for learning purposes only. Please consult your financial advisor before making any decisions. Tweets neither advice nor endorsement.
#ICICIBANKOne of the largest banks of india looks very good on long term trend channel & gives a target upto 4000 by jan 2025.
P.S: This is not a buy or sell recommendation. It is just information sharing. Please consult your SEBI registered financial advisor before making any trade or investment as the stock markets are subject to market risk
ICICIBANK - Bearish ViewICICIBANK - Elliott Wave Count
the market looks like its near the top and soon we can expect the reversal downside to Wave A correction.its recommended to wait for the price to comes back & close inside the channel to confirm the bearish scenario to take short trades. whatever the high made on wave 5 will be the SL for the short position.
Please note that this information is for educational purposes only, and it is crucial to trade with caution.
NSE:ICICIBANK NSE:ICICIBANKZ2023 BSE:ICICIBANK
Time to hunt down the ICICIBANK bears!!The stock broke out above an active supply/demand zone of INR 900-920 in April 2023.This particular zone has been an active supply/demand zone for the stock since Sep.2022.
2 attempts by the stock to go past INR 1000 mark were reversed by the sellers in July and Sep. this year.
Now for the past 3-weeks the stock has been making an accumulating range right at the zone of 900-920 and now has picked up some pace.(REMEMBER-ACCUMULATION RANGE AT SUPPORT AND DISTRIBUTION RANGE AT RESISTANCE OFTEN LEAD TO POWERFUL UP/DOWN MOVES RESPECTIVELY).
INR 950 is the minor resistance zone and the stock should not have much trouble taking it down first, before heading forward to face the bigger resistance of INR 1000(which too shall be hopefully taken down this time around).
TIME'S UP FOR THE BEARS!!
NOTE*- This post is for educational purpose. Please analyze/research thoroughly about any instrument in which you want to trade/invest.
ICICI Bank LongIcici Bank Elliot Wave Analysis
icici bank complete upside 5 wave and start downside wave A,B or C down side
Wave A internal wave a,b or c
Wave b internal Wave a,b or c
Wave C internal 1,2,3,4 or 5
wave C complete down confrim 2 or 4 trend line
correction a,b or c complete o-b trendline break