ICICI ICICI Bank:
As on chart double top is being expected to form on DTF..
CMP is at 50ema cross, price has to move till 200 ema to complete this pattern.
Let's see what happens...
IBN trade ideas
ICICI Bank Bull Call SpreadICICI Spot: 623
Breakeven: 624
Buy ITM: CE 600 @ 28.30
Short OTM: CE 640 @ 5.95
Theta: +0.12 (Theta Neutral)
Delta: +0.47
Probability: 49 %
Max Pofit: +25K
Max Loss: -30K
Exit
SL: Spot Slips below 615 on a closing basis
Target: Profit > 10K (Spot > 632)
Rationale:
RS: +VE Stock
Price: Bullish Candle (Reversal) - Price is above 20 EMA (600) & 50 EMA (590) Strong support Zone - Value Area.
RS: Break Out from descending trend line
RSI: Break Out from previous high
Bank Nifty: Bullish
ICICIBANK Looking good to go Long in ICICIBANK
All the key levels are mentioned in chart with Stop-loss and Targets
Overall Waves view in Daily time frame
Channel view in Daily Time Frame
Key Levels
RSI in hourly above 60
Adx Dmi in hourly positive
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
buy icici fo longbuy abv:644
trgt-647-650-653
stop loss 640
Disclaimer: The above is shared just for educational purpose and is my personal view.
By no means shall I be accountable for any debits/losses amounting out of it.
I am not a SEBI registered Analyst, so please consult your Investment Advisor and take rational decisions
