ICICI Bank - Harmonic Pattern Combined with Trend line
ICICI Bank has fallen nearly 18% from its all time high. A fundamentally strong stock which has been respecting harmonic levels several is expected to be reversed from the marked level. 680 level is the range to initiate buy. Harmonic levels also matches with the support zone as shown in the chart.
It is also an classic example of previous resistance acting as support and it is expected to take support at 680 and move higher. A chart pattern of higher highs and higher lows in 15 minutes timeframe would suggest a strong up move coming in the future.
It is also an classic example of previous resistance acting as support and it is expected to take support at 680 and move higher. A chart pattern of higher highs and higher lows in 15 minutes timeframe would suggest a strong up move coming in the future.
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