ICICI Bank weekly and daily chart analysis

12 thg 1

In weekly time frame ICICI bank had formed a symmetric triangle pattern and broked out of it, now it has successfully retested the BO. In daily time frame we could see that the stock is above 200,100,50 and crossed 20 ma today, price retested the 50ma and bounced back by forming a bullish engulfing on 10th January if closed higher on the next daily trading session i will be bullish till the next instant resistance that would be ATH. I expect it to move much more than ATH as nifty is showing bullishness and if Banknifty follows the path on which nifty is there is a high probability of this stock moving higher.


Weekly Chart analysis picture of ICICI Bank -

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NIFTY
BANKNIFTY
ICICIBANK