ICICI Bank – High Probability Short Setup | Major Resistance + Falling Trendline Confluence
Analysis
ICICI Bank has rallied strongly from its recent swing low and is now approaching a significant resistance zone around ₹1390, where two major technical barriers converge:
Horizontal resistance that has acted as a strong supply zone multiple times over the past several months.
Long-term descending trendline resistance connecting the major swing highs.
This confluence creates a high-probability area where sellers may regain control.
Historically, every test of this resistance zone has resulted in sharp pullbacks, making this level worth monitoring closely for bearish confirmation.
Trade Setup
Entry
Consider short positions near ₹1390
Prefer waiting for bearish confirmation such as:
Bearish engulfing candle
Shooting star
Evening star
Strong rejection wick
Lower timeframe breakdown after rejection
Avoid entering before confirmation, as resistance levels can briefly break before reversing.
Stop Loss
Stop Above ₹1445
A sustained close above this level would invalidate the bearish setup by confirming a breakout above both the horizontal resistance and the descending trendline.
Risk management is essential.
Targets
Target 1
₹1295
This is the first significant support where partial profit booking can be considered.
Target 2
₹1220
If selling pressure continues, price may revisit the rising trendline support around ₹1220, making it the second downside objective.
Why This Setup?
This trade is based on multiple technical factors aligning together:
✔ Long-term descending trendline resistance
✔ Multi-month horizontal resistance
✔ Previous rejection history at the same price zone
✔ Strong recovery rally into resistance
✔ Favorable Risk-to-Reward ratio if rejection occurs
When multiple resistance levels overlap, the probability of institutional selling often increases.
What to Watch
A clean rejection from ₹1390 with increasing selling volume would strengthen the bearish case.
However, if price closes decisively above ₹1445, the setup becomes invalid and short positions should be avoided.
Risk Management
Never risk more than 1–2% of your trading capital on a single trade.
Wait for confirmation instead of anticipating the reversal.
Trail your stop once Target 1 is achieved.
Book partial profits at intermediate support levels if volatility increases.
Conclusion
The ₹1390 zone represents one of the strongest resistance areas on the ICICI Bank daily chart due to the confluence of a long-term descending trendline and repeated horizontal resistance. A confirmed rejection from this level offers an attractive short-selling opportunity with downside targets at ₹1295 and ₹1220, while maintaining a clearly defined invalidation above ₹1445.
Disclaimer: This analysis is shared for educational purposes only and should not be considered financial or investment advice. Always perform your own research and use proper risk management before taking any trade.
Analysis
ICICI Bank has rallied strongly from its recent swing low and is now approaching a significant resistance zone around ₹1390, where two major technical barriers converge:
Horizontal resistance that has acted as a strong supply zone multiple times over the past several months.
Long-term descending trendline resistance connecting the major swing highs.
This confluence creates a high-probability area where sellers may regain control.
Historically, every test of this resistance zone has resulted in sharp pullbacks, making this level worth monitoring closely for bearish confirmation.
Trade Setup
Entry
Consider short positions near ₹1390
Prefer waiting for bearish confirmation such as:
Bearish engulfing candle
Shooting star
Evening star
Strong rejection wick
Lower timeframe breakdown after rejection
Avoid entering before confirmation, as resistance levels can briefly break before reversing.
Stop Loss
Stop Above ₹1445
A sustained close above this level would invalidate the bearish setup by confirming a breakout above both the horizontal resistance and the descending trendline.
Risk management is essential.
Targets
Target 1
₹1295
This is the first significant support where partial profit booking can be considered.
Target 2
₹1220
If selling pressure continues, price may revisit the rising trendline support around ₹1220, making it the second downside objective.
Why This Setup?
This trade is based on multiple technical factors aligning together:
✔ Long-term descending trendline resistance
✔ Multi-month horizontal resistance
✔ Previous rejection history at the same price zone
✔ Strong recovery rally into resistance
✔ Favorable Risk-to-Reward ratio if rejection occurs
When multiple resistance levels overlap, the probability of institutional selling often increases.
What to Watch
A clean rejection from ₹1390 with increasing selling volume would strengthen the bearish case.
However, if price closes decisively above ₹1445, the setup becomes invalid and short positions should be avoided.
Risk Management
Never risk more than 1–2% of your trading capital on a single trade.
Wait for confirmation instead of anticipating the reversal.
Trail your stop once Target 1 is achieved.
Book partial profits at intermediate support levels if volatility increases.
Conclusion
The ₹1390 zone represents one of the strongest resistance areas on the ICICI Bank daily chart due to the confluence of a long-term descending trendline and repeated horizontal resistance. A confirmed rejection from this level offers an attractive short-selling opportunity with downside targets at ₹1295 and ₹1220, while maintaining a clearly defined invalidation above ₹1445.
Disclaimer: This analysis is shared for educational purposes only and should not be considered financial or investment advice. Always perform your own research and use proper risk management before taking any trade.
Note
enjoy huge profit in just one day Note
my stop loss is accurately 100% safe Note
stop loss only closing basis , only closing above 1445Note
stoploss triggered Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.