IBN trade ideas
ICICIBANKIF IT SUSTAINS 379-380 THEN 385 388 AND 395 CAN BE SEEN ON UPSIDE.....
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Hi all,
Its pleasure to have you all here.
I have started putting these charts as a contribution from my side to all people who are new to business, as I had to struggle a lot without any sources at disposal. So please consider this a just small contribution from my side.
Few Honest Disclosures:
1. Any idea shared is my personal view, its not a recommendation, neither any kind of paid propaganda, so please
do your bit of research.
2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all.
3. I expect no comments or like nor any negativity, as I said its just a small helping hand from my side, please plan your risk and trade as per your capacity.
4. To trade in Cash, options or futures is your sole choice and your own risk
5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results.
6. I work for my own living, this is a hobby which I do sincerely to help anyone who might come across my charts.
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LONG OPPORTUNITY !!!There is a long positional opportunity in icici bank ...
1) at a 15 min time frame there is a formation of decending triangle,its breakout may signal an upward movement
2) IF 50 EMA closes above the moving average its again signal for buy
3) A BULLISH ENGULFING pattern or bullish candle at the stucture zone is 100% confirmation for long.
NOTE: Trading is all about playing with probabilty along with skills, knowledge,and proper money management. NOONE is 100% sure in trading .
bullish on icicistock touched its R2 resistance today and then reversed... if someone woulld have traded the 15 min heiken Ashi candle for consecutive bar strategy, he woukd have made good profits.
none the less...this counter is still a long candidate watch out for a stoploss of 379 and trade...
my suggestion ---
1. no FnO trade
2. buy 50 percent quantity at this rate , and 50 percent nest 380 levels... stopless 375/378 based on your selection
3. i expect a flag pattern formatiion at this level to eat premium