ICICI Bank analysis in 4H timeframe. ICICI Bank was in nice uptrend and following the trend line. But now it looks bearish after deviation from high of 942.90 . And now market structure is also shifted to downside After breaking the trend line and orange zone. Now I would like to short it only if it it comes back for a retest of Orange zone. Just wait for some rejection from the zone and then get into the trade. Stop loss at 936 and take profits are marked in green and full take profit at 837.
Not a financial advisor. This idea is just for educational purposes only. Do your own research. #DYOR. Hit the like if you like the idea.
Not a financial advisor. This idea is just for educational purposes only. Do your own research. #DYOR. Hit the like if you like the idea.
Trade closed: target reached:
After the sharp drop price nicely respected the orange zone and gave peak profit around 13 %. All targets reached.