#ICICIBANK
ICICIBANK is possibly headed for a correction, weekly charts suggest that it has taken resistance with a kind of double top formation near the channel top with RSI divergence.
It has corrected from top and has recently done a pullback near to 50% level, from there it is again facing resistance and there is possibility that it eventually corrects upto channel bottom.
If my market profile reading is correct, then slowly it may eventually test 1180 POC
and based on #GannFan analysis it is probably facing resistance as per this chart, with a very important time Cyle of 99B & 144D from its recent ATH already completed. Such confluence of Time cycles does give some violent moves once price breaches High or Low of confluence
This post is not a buy or sell reco but just for my own records and learning purpose. Before taking any trade, do your own research and consult your Financial advisor
It has corrected from top and has recently done a pullback near to 50% level, from there it is again facing resistance and there is possibility that it eventually corrects upto channel bottom.
If my market profile reading is correct, then slowly it may eventually test 1180 POC
and based on #GannFan analysis it is probably facing resistance as per this chart, with a very important time Cyle of 99B & 144D from its recent ATH already completed. Such confluence of Time cycles does give some violent moves once price breaches High or Low of confluence
This post is not a buy or sell reco but just for my own records and learning purpose. Before taking any trade, do your own research and consult your Financial advisor
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