SWING IDEA - ICICI BANK

2023年9月9日

technicals suggest a gradual upside in ICICI BANK. There are multiple confirmations for the same. The reasons are stated below :

• 954 levels previously acted as a strong resistance and now the stock price broke 954 levels, which now acts as a support.
  
• there has been a consolidation in the stock price for last 2months forming a falling wedge pattern(bullish sign)
  
• support on the 50EMA (ON DAILY TF)
  
• break of the trend line
  

Stock could easily move unto 1050 - 1111 levels in coming weeks.

2023年9月13日

注释

currently, stock is up by 2% from our buying price and formed 2 doji candles which indeed shows that the price is trying to sustain on upper levels

2023年9月25日

注释

ICICI BANK retested the 950 levels which seems to be a
strong support and formed a bullish candle.

ADVICE : can hold with a tight SL of 935

2023年9月30日

注释

SL just got saved.
price returned from 935 twice and
formed a hammer candle twice.

we'll hold onto to the trade with SL of 935(on closing basis)

2023年10月8日

注释

One can still hold onto the stock.
With the same SL.
If we get a strong close below 935, we'll exit.

2023年10月24日

注释

SL HIT !!!

EXIT from this trade.

---- END ----