ICICI Bank - Technical Analysis - 7/29/2016ICICI Bank stock is down about 2.5 % today but it is usual jitters around result release. Again there will be some chatter around its roughly 30,000 crore NPA and other blights. But as we have harped on many times, who cares about those problems?!
These are typical stocks you buy low and sell high without asking much questions. You can read the reason in previous BankNIFTY post. But you might ask, what is low and what is high? Well answer to that question separates professional trader from retail, isn't it? ;) So if things come in as expected then usual boundaries are 240 and 300. That's the level where we would like to reduce the long exposure. Other than that just keep trading the channel !
There will be a day of reckoning when it will trade below 180, but at that point you just buy more with each 50 points down with next 5 - 10 years in mind.
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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
ICICIBANKICICIBANK - in daily chart macd line is above macd signal line and rsi not in overbought zone and 3 ema in cross above eachothers......
1. First resistance is 1000
2. Resistance is long trendline as per weekly chart
3. RSI not in overbought zone in - MONTHLY CHART
4. RSI not in overbought zone in - WEEKLY CHART
5. MACD line crossed above in monthly weekly chart
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ICICIPRULI - Elliott Wave CountICICIPRULI - Elliott Wave Count
It appears that ICICIPRULI is completing wave 4 and we can anticipate wave 5 to reach the range of 670 to 700 in the coming days. Please note that we have placed our stop loss at the level of 512. This means that if the price drops below this point, we will exit the long position.
Please note that this information is for educational purposes only, and it is crucial to trade with caution.
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ICICI Bank 1D Timeframe ProjectionICICI Bank 1D Timeframe Projection
The overall trend is bullish but here I share my view for ICICI Bank.
Upon analyzing the market trends, it has been observed that the overall trend for ICICI Bank is currently bullish. However, to provide you with a detailed perspective, I would like to share my view on the 1D timeframe projection of the stock. By analyzing the past performance of ICICI Bank in the 1D timeframe projection, I can provide you with valuable insights on its future performance.
ICICI Bank: Key Support and Resistance LevelICICI Bank is in strong uptrend and my personal view on ICICI Bank is bullish medium to long-term.
However, you can expect correction soon. So, for swing traders and investors correction may provide you an opportunity to enter.
That's why you need to know from where ICICI Bank might bounce back. So, I draw key diagonal Support and Resistance level.
Wait for these levels and when price rejects this price level, you may get an opportunity to make money.
Happy Trading!
ICICIPRULI - Inside Bar - NR4 & NR7 - Next level and support#ICICIPRULI closed over 20EMA strong support and formed the Inside Bar and also become NR4 and NR7 candle. watch the Gap UP/DOWN opening tomorrow.
Showing Mix result in Technical Parameter:
CCI is treading UP
RSI is treading UP
Stoch is treading down
ATR is decreasing since 7 days.
New Long position created
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Support : 412 and 405 and 400
Breakdown : 417 (OR Gap down opening)
LTP : 423.75
Breakout : 430 (OR GAP UP opening)
Short Target : 440 and 450
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Positive & Negative Point:
1) Bullish in Daily chart.
2) Bullish in Weekly chart
3) Bullish in Monthly Chart
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(Disclaimer: This is only for educational purpose and paper treading.)
ICICI BANK 1D viewIcici bank follows the market trend and is almost near its strong support zone. Watch out for this level if it is unable to hold this level we can see a good fall in this stock as well.
Trade safe. Manage risk. Be profitable.
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Disclaimer:- This is my view. Please analyze the charts yourself and then decide to take any trades.