In my option the bull run for IBN has been going on from $8.12 on 3/21 to high of $8.64 of late, now it is time for a retracement or reversal to the bear side. Also, per RSI indicator (RED) line has been broken by PA, by still at around 54 or positive or bullish territory. If you decide from your strategy to invest in this stock & buy shares is tomorrow a short...
One can trade rectangular box-if ICICi Bank goes below 236 for Initial Target Zone 225-226. Also one can take sell call going below 243 with yesterday's high as stop.
Regards,
Abhishek H.Singh,CMT
Monthly Chart - An Alternate View on ICICI Bank -looks like Internally it might go & test the 'a-c"trendline between
195-200.
This will complete A larger B-Wave Running Triangle.
Regards,
Abhishek H.Singh,CMT
ICICI Bank stock is down about 2.5 % today but it is usual jitters around result release. Again there will be some chatter around its roughly 30,000 crore NPA and other blights. But as we have harped on many times, who cares about those problems?!
These are typical stocks you buy low and sell high without asking much questions. You can read the reason in...
-WW can seen along with -ve DIVERGENCE in icici bank 1hr. if sustain or below 260 (38%)
and valid till recent high 270 is not breach if 270 cross than 287(50%)-95 range likely from where it might be revese. for trgts 235-215-200-190.
