ICICIBANK 1 Hour View

📊 1-Hour Timeframe: Key Levels
🔹 Support Levels

Immediate Support: ₹1,363.14

Key Support Zones: ₹1,352.93, ₹1,333.87

🔹 Resistance Levels

Immediate Resistance: ₹1,367.07

Key Resistance Zones: ₹1,385.23, ₹1,398.47

These levels are derived from standard pivot point calculations and are commonly used by traders to identify potential reversal points within the trading day.

📈 Technical Indicators (1-Hour Chart)

Relative Strength Index (RSI): 37.26 — indicates the stock is nearing oversold conditions, suggesting potential for a price rebound.

Moving Average Convergence Divergence (MACD): -16.11 — a negative value, which may indicate bearish momentum.

Average Directional Index (ADX): 23.81 — suggests a weak trend, implying indecision in the market.

Stochastic Oscillator: 13.21 — indicates the stock is oversold, potentially signaling a reversal.

Supertrend Indicator: ₹1,398.34 — indicates a bearish trend.

These indicators collectively suggest a bearish short-term outlook, with potential for a reversal if support levels hold.

📊 Price Levels to Watch

Support Zone: ₹1,380–₹1,400

Resistance Zone: ₹1,426–₹1,430

Key Levels: ₹1,400–₹1,410 (strong support)

🔄 Summary

ICICI Bank Ltd. is currently trading near its support levels on the 1-hour chart. The RSI indicates potential oversold conditions, while other indicators suggest a weak bearish trend. Traders should monitor the key support and resistance levels mentioned above for potential breakout or breakdown scenarios.