ICICIBANK - chart - 701540
ICICIBANK
There is a doji formed on hourly charts of ICICI. Further, ICICI BANK’s down move may see some restriction as per 5min as well as hourly HA Chart. The charts as well as Banking as a industry is looking bearish so far so, but the uncertainty may give wild swings on either side.
Anyone considering buying ICICIBANK may consider the same if sustaining above 297 on 5min as well as hourly charts for target of 306.45 followed by 315.75 and 324.05. However, it would be prudent to book and keep trailing your positions around given levels.
On the short side a trade is advised only if on 5min as well as hourly charts it is sustaining below 280.95 with target of 272.55 followed by 268.75 and 256.45.
My personal bias is BEARISH on ICICIBANK but will consider waiting for clear direction rather entering the trade, however it is wise to stick to levels give only.
p.s. –. Trading in current markets is very risky due to uncertainty and volatility in the market but will trade as per my given levels only. Please trade as per your comfort and risk. These levels have derived by analyzing Options data and spot price movement.