F&O Radar | Deploy Broken Wing strategy in ICICI Bank to gain from bullish outlook
ICICI Bank are currently trading around the Rs 1,292.85 level, maintaining their long-term uptrend.
Recently, the stock broke out of a consolidation phase after pulling back from its higher levels. It has since stabilized near a key demand zone, trading in a consolidating range and signaling a potential trend reversal.
“A sustained move above the 1,300 level could ignite further upward momentum, potentially driving the stock toward new highs in the coming sessions, reinforcing its bullish outlook,” said Hardik Matalia, Derivative Analyst at Choice Broking.
The Relative Strength Index (RSI) stands at 60.39 and is trending upward, indicating increasing buying momentum.
Additionally, ICICIBANK has rebounded from its short-term (20-day) and medium-term (50-day) EMAs, supporting the strength of the current uptrend and suggesting continued potential for gains.
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