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Umang Bhutada

22nd Feb · SEBI-Registered Analyst

ICICIBANK
Trend Strong higher high – higher low structure on daily timeframe Trading above 20DMA, 50DMA & 200DMA → clear bullish structure Bank Nifty strength supporting move 🔥 Recent Trigger Broke out of short consolidation range Volume expansion on breakout day → institutional participation likely RSI holding above 60 zone (bullish momentum zone) 📍 Important Levels Support: ₹1,180–1,200 zone Immediate Resistance: ₹1,250–1,270 Sustaining above resistance can open fresh momentum leg 🧠 Why It’s Strong Private banking sector leading Strong relative strength vs Nifty Clean chart without messy volatility

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