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ICICI Bank (Momentum Pick)



ICICI Bank (Momentum Pick) :-  
In the below semi-log Line chart we have mention the prices showing strong trend line support at the level 920, we are expecting triangle breakout in coming Months above  a monthly close of 1100 plus.   
 
As per the monthly semi-log line chart prices are making higher high with trend line support, and as per our analysis ICICI Bank is making long triangle pattern, and for the current period its moving in parallel trend in the range 920 - 1328 . RSI indicator showing positive reversal from over sold level. It has also support of the Monthly Simple moving Average 55 / 89 days which are rising.   

We advise to accumulate in tranches at current market price of 1050 with a stop loss of 920 for a target of 1600 to 1700 in next 3 to 6 months. It has monthly consolidation of 5 to 6 years with the price range of 255 - 1455 from 2008. Once it closes above 1100 plus (monthly) we will see a sharper up move to our desired targets.


ICICI Bank (Monthly Chart)



ICICI Bank (Weekly chart with Wave Analysis)

























Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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