ICICIBANK trade ideas
ICICI Bank turning Bullish - Expecting Target of 530--550ICICI turned super bullish from this point as RSI taking support at 60.00.
Bullish Harami Candle forming on daily chart, break and sustain above 480.00 will take it to 520 and then to 530--550
We can enter ICICI Bank with Bull Call Spread.
Bull Call Spread on ICICI Bank
+1x 31DEC2020 480CE - ₹ 23.65
-1x 31DEC2020 530CE - ₹ 7.25
Max. Profit - ₹ +46,200
Max. Loss - ₹ -22,550
Max. RR Ratio - 1:2.00
Breakeven - 497.00
Estimated Margin/Premium - ₹23,000-- ₹25,000
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!
ICICI BANK WEEKLY BEARISH Bat
Horizontal BLACK DOTTED lines r High & Low of ULTRA HIGH Volume CANDLE .
1ST Vertical dotted line is ULTRA HIGH VOLUME i.e DISRIBUTION PHASE of SMART MONEY .
2nd and 3rd Vertical Dotted lines is NO DEMAND at the ULTRA VOLUME CANDLE..
ULTRA HIGH VOUME Candle will be RESISTANCE
ULTRA HIGH VOLUME for going SHORT confirmation need with LOW VOLUMES in the area of ULTRA HIGH VOLUME BAR like earlier i.e when NO DEMAND( volume lower than previous 2 candles)appears with RSI BELOW 70
POTENTIAL SELL
ICICI BANK MONTHLY BEARISH DEEP CRAB Earlier this Pattern given good reaction on Type1 entry & Hit TARGET 1 ,now price again came into PRZ Zone of Pattern it becomes a TYPE2 Entry which is REVERSAL
Horizontal BLACK DOTTED lines r High & Low of ULTRA HIGH Volume CANDLE .Vertical dotted line is ULTRA HIGH VOLUME i.e SMART MONEY .ULTRA HIGH VOLUME for going SHORT confirmation need with LOW VOLUMES in the area of ULTRA HIGH VOLUME BAR i.e when NO DEMAND(volume lower than previous 2 candles)appears with RSI BELOW 70
POTENTIAL SELL
ICICIBANK - Bull Flag formation- Intraday/Short Term TradeThis analysis is purely based on price action and Chart Patterns.
The analysis is on 15min TF hence target can be achieved in intraday trade or in couple of days
Trade logic with SL and Target is explained in image itself.
Don't chase the price.
Always plan your trade & trade your plan
Check the idea of ICICIBANK Bull Flag Pattern Breakout on Daily TF linked below.
Keep trailing SL accordingly once entered into the trade.
Trade at your own risk and money management. Do your own study before taking any trade
Feel free to comment for any queries & suggestion
HEAD & SHOULDERS + ELLIOT CORRECTION WAVE IN ICICI BANK POSSIBLE SHORTING OPPORTUNITY IN ICICI BANK WITH THE ABOVE STATED PATTERNS.
NOTE : POSSIBLE NOT GUARANTEED*
ALTHOUGH I AM ALREADY LONG IN ICICI BANK, IN CASE THE BULLS LOSSES THE BATTLE, I KNOW BY HOW MUCH IT GONNA MAKE A POSSIBILE DIP SO I AM CALM AT THE MOMENT :D