ICICI Bank Share Price Target: A Profitable Trade Setup with Defined Risk
The stock market presents lucrative opportunities, and ICICI Bank’s February futures contract is showing a promising trading setup. With a strong risk-reward ratio, this trade idea is structured with clear entry, stop-loss, and target levels.
ICICI Bank Share Price Target Trade Setup
Current Market Price (CMP): ₹1261.40
Buy Level: At CMP or near ₹1261.40
Stop Loss: ₹1242 (Exit if the price falls below this level)
Target Levels: ₹1280 (First Target), ₹1295 (Second Target)
Why This Trade?
- Strong Momentum: ICICI Bank has been showing steady upward movement, making it a strong candidate for short-term gains.
- Risk-Reward Ratio: With a stop loss at ₹1242 and targets at ₹1280 and ₹1295, the reward significantly outweighs the risk.
- Support Levels: The stock has strong support near ₹1240, making a downward breakout less likely.
- Bullish Sentiment: Positive trends in the banking sector support further upside potential.
Trading Strategy
Enter the trade near ₹1261.40.
Place a strict stop-loss at ₹1242 to manage risk.
Book partial profits at ₹1280 and hold the remaining position for ₹1295.
If the stock shows strong momentum, consider trailing the stop loss to secure gains.
Conclusion
This trade setup offers a well-balanced approach with defined risk and potential for attractive returns. Traders should monitor market trends and news events to ensure alignment with their trading strategy. Always follow disciplined risk management for long-term success in futures trading. Subscribe Youtube Channel
Disclaimer: This is for educational purposes only. Please do your research before making any investment decisions.