ICICIBANK trade ideas
Technical Analysis Class 1 - Rectangle Chart patternDaily Chart Observation
Point no.1-Resistance– Previous swing high resistance. 3 times, price reverse from this area.
Point no.2- Support– Previous swing low support area. 2 times, price bounce back from this area.
Point no.3- Rectangle Chart Pattern.– Price is trading in the range formed the rectangle pattern.
Conclusion
From the above chart, it is clearly seen that the price is trading in the range. Now look at the current candle is at one end of the trading range that is in the support area. So there is a possibility price bounce back from this support area.
ICICIBuy on dips with stops below 415 close tgt 438 443 and above. The trend is strong up and awaiting some market neutral day to perform.
ICICIBANK short icicibank gave proper HNS pattern as shown in chart one can go short for short term as levels mentioned in chart. It gave berish candle and indication on daily timeframe. trade according to risk
Buslish on ICICI bank 2Hrs chartICIC bank forming a potential cup and handle pattern.
RSI has touched the overbought zone suggests that it is about to form a handle. (also it has touched the resistance).
MACD is has turned bullish.
ICICIBank Potential Double TopICICIBank could potentially form a double top at 440. breakdown level below 410 for a target of 380 in the short term.
