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Analysis: #NYSE $IBN

Case 88 #ICICI Bank Limited

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

Thread 👇👇👇

#IBN 1/3
Chart 1
Monthly Chart: The 2008 all time #high at 13.50 was finally taken out last month. The price is now free to target 17.05 then 18.40 and eventually 21.50 where firm #resistance is expected. However the longer term target remains 23.70/85

$IBN 2/3
Chart 2
Weekly Chart: The #Strategy is printed on the image.

$IBN 3/3
Read 3 tweets
Every now n then, some traders/friends keep asking... X co. has bad news, shud I Short? Y co.'s no.s r gud, shud I Buy?
My ans wud b, if Good news mean price WILL rise & bad news mean Fall, ten isn't tat sure way of making money?
It doesn't work tat way. Let me elaborate...
Case 1. Sometimes, Price has factored in upcoming News/ Event. (EMH)
Why this happens?
Smart money/ Promoters/ Politicians hv faster access to information. They create positions well before news is knowns to Panwallahs... n that time biggies cover positions, trapping retail. 2/n
E.g 1
Maruti declared July sales no.s on 1st Aug. Sales drop was massive 36%. Still, price made bottom on 31July itself & price rose since then.
Biggies anticipating weak no.s were Short in Jul. When actual no.s came, they covered.
(PFA chart.)
Read 12 tweets

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