SWING IDEA - ICICI BANKtechnicals suggest a gradual upside in ICICI BANK . There are multiple confirmations for the same. The reasons are stated below :
954 levels previously acted as a strong resistance and now the stock price broke 954 levels, which now acts as a support.
there has been a consolidation in the stock price for last 2months forming a falling wedge pattern(bullish sign)
support on the 50EMA (ON DAILY TF)
break of the trend line
Stock could easily move unto 1050 - 1111 levels in coming weeks.
ICICIBANK trade ideas
ICICI BANK: Q2 RESULTICICI BANK: Q2 SL NET PROFIT 102.6B RUPEES VS 75.6B (YOY) || Q2 REVENUE 349.2B RUPEES VS 260.3B (YOY)
ICICI BANK: Q2 GNPA 2.48% VS 2.76% (QOQ) Q2 NET NPA 0.43% VS 0.48% (QOQ) Q2 PROVISIONS 5.8B RUPEES VS 12.9B (QOQ)
RESULT IS GOOD but price trading near Multiyear Resistance so buy on Dip better strategy for this stock . Major Support near 870
ICICI Bank Stocks trading near 5 day Low & Major Bank Nifty Components Near 1H POI its Strong Support , indicating a possible breakout
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BullishBullish Harmonic Patter in ICICI Bank
This channel is about sharing my views about the Indian stock market. I am not SEBI registered. This channel is only for educational purposes. Before taking a trade takes a suggestion with your Financial Advisor (or) Trade at your own risk. I am not holding any position.
ICICI Bank ready for 1000+ again On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
ICICI BANK SUPPORT LEVELThe Bank Nifty this week, it's essential to closely monitor ICICI Bank's price action. If ICICI Bank respects this support and showcases bullish signals, it could serve as an early indicator for a positive move in the Bank Nifty. Conversely, a breach below the support might suggest caution.
ICICI Bank looking good for upcoming upside move For all trade on my Auto Harmonic patterns indicator trade setup -
Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail our SL if trailing SL hit exit from long trade and initiate sell trade ,
ICICIBANK--Double Top??the stock is near its demand zone...
if price breaks this zone and gives retest will go for short side....
Chance of continuation fall till up to 920 zone...and then have a chance of Right shoulder formation...So keep in bearish view up to 920 and then look for buyside from this zone.
ICICI Bank ready for fire on upside For all trade on my Auto Harmonic patterns indicator trade setup -
Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail our SL if trailing SL hit exit from long trade and initiate sell trade ,
ascending triangle breakout #ICICI bank as you can clearly see the ascending chart breakout pattern . for this , i reoly on 4 point theory ie At least 2 points are required to form a trend line and 2 trend lines are required to form a symmetrical triangle. Therefore, a minimum of 4 points are required to begin considering a formation as a symmetrical triangle. The second high (2) should be lower than the first (1) and the upper line should slope down. The second low (2) should be higher than the first (1) and the lower line should slope up. Ideally, the pattern will form with 6 points (3 on each side) before a breakout occurs.
ICICI BANK ( Swing Trade)
Price is currently rejecting from its demand area i.e 950-960 which is aligning with fib retracement levels 0.5 and 0.618 respectively.
The prices is forming inverted H&S pattern and taking support on trendline as well giving some extra confluence to our analysis.
So we can expect some bullish price action in coming trading sessions.If price comfortably breaks and close above 975 ,we can probably see new all time high till 1055. Other targets are mentioned in the charts.
If price fails to break above 975 and slips below 950 then it can further falls till its support ie. 935 or 915.
ICICIBANK DAILY (classic textbook triangle pattern) BREAKOUT ICICIBANK DAILY (classic textbook triangle pattern) BREAKOUT
ICICIBANK DAILY CANDLE CHART READING AS TRIANGEL PATTERN BREAKOUT
its a clear classic text book triangle pattern breakout
AS we can price trading in a triangle for around 3 months
and now its breakout of trangle @ 868
after breakout of triangle it come back and retest the breakout level
and holding safe the low of breakout candle
so its a pure buying idea for me
with the stop loss of 840 on closing basis
and the target for 980
ICICIBANK--Near its trendline??the stock is near its trendline break...
today a strong bullish momentum is observed in this stock....
Rally base rally is observed from 965-962 zone...tomorrow if this zone acts as price is bullish...
this time will breaks the trendline and moves higher...
liquidity also lies above these zones....
Go for long in this stock...
ICICIBANK Buy after Bounce BackThis is time to wait and monitor the price of ICICIBank and you can buy this stock for intraday at 963.60
This is my analysis based on the price action and chart pattern.
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ICICI BANKICICI Bank is a large private sector bank in India offering a diversified portfolio of financial products and services to retail, SME and corporate customers. The Bank has an extensive network of branches, ATMs and other touch-points.
Company is expected to give good quarter
Company has delivered good profit growth of 34.6% CAGR over last 5 years.
its profit has been doubled almost 2 times in last 2 years.
IT HAS FORMED REVERSE HEAD AND SHOULDER PATTERN IN 1 DAY CHART
CURRENT PRICE-973
TRAGET PRICE-1114
ICICIBANK--Long to Bearish Gap ??The stock is trending downwards....
price is now near to a strong, a strong rise is observed from this area..
If it is a bullish turn price will take the support from this area... then look for buy side....
If this area pushes the price upside...we will on long side until the Bearish Gap be filled.
again will look for sell at Bearish Gap or trendline. Look for buy up to 970 and 980 levels.
Mean while it will also test the trendline again.
Keep safe.......