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Icici bank - Flag breakout

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NSE:ICICIBANK   ICICI BANK
ICICIBANK

context of breakout is more important than breakout itself

1) Breakout is happening at new ATH and 52 week high

2) Breakout is happening after a consolidation period of 2-3 weeks AFTER the stock ran up significantly.
this shallow pullback shows that despite the stock ran up, there are no significant sellers, stock is under institutional accumulation

Long - CMP
SL - 865
Targets - no targets, just keep trailing with swing lows and then 50 DMA

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