Long
ICICI Bank – Short setup | Major Resistance + Falling TrendlineICICI 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. 
Short
Long
SKYGOLD: Multi-Timeframe Breakout & Strong Momentum ContinuationOverview :
Sky Gold and Diamonds Limited (NSE: SKYGOLD) is exhibiting an exceptionally strong bullish structure on the daily (1D) and weekly timeframes, currently trading near the ₹665.45 level. The price action reflects a robust multi-year price discovery phase, driven by aggressive volume expansion and exceptional top-line and bottom-line growth.
Trend Direction (Moving Averages) :
EMA Alignment : The stock shows a clean, textbook bullish alignment across the short-term and medium-term horizons. The 20 EMA, 50 EMA, and 200 EMA are stacked in correct bullish order with a steep upward slope, confirming strong macro and micro trend continuation without structural interference.
Momentum & Oscillators (RSI, MACD, FIB) :
RSI (Relative Strength Index): The daily and weekly RSI indicators are hovering in the 75–78 range. While this signals strong buyer momentum and decisive trend strength, it also indicates that the asset is in a near-term overbought state, meaning traders should watch for potential minor consolidations or shallow pullbacks.
MACD : The MACD histogram continues to expand in positive territory with a clean bullish crossover, indicating increasing buying pressure.
Fibonacci & Price Discovery : Having cleared all major historical resistance levels and Fibonacci extensions cleanly, the stock is currently trading in a "no-resistance" zone of price discovery.
Key Levels to Watch :
Immediate Support : The primary ascending trendline and breakout zone located around ₹591.92 (-10.9% from current levels). A healthy pullback to test this region would act as a major accumulation point.
Resistance : There are no immediate structural overhead resistance levels within 10% of the current price due to the ongoing price discovery phase.
Directional Bias: STRONG BUY (Hold / Buy on Dips)
The convergence of multi-timeframe bullish alignment, stellar fundamental growth (revenue up over 77% YoY), and clean technical breakouts places the bias firmly in the "Strong Buy" camp.
For New Entries : Chasing aggressively at current overbought levels carries short-term risk; waiting for a constructive retest or flag consolidation near the ₹590–₹600 structural support offers a superior risk-to-reward ratio.
For Existing Positions : HOLD. Trail stop-losses below the ₹591.92 trendline support to protect accumulated gains while riding the macro trend.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always perform your own research and manage your risk/position sizing accordingly. 
Long
Long
Hindustan Zinc - Squeezed Between Trendline Support & ResistanceOverview
Hindustan Zinc is trading in a tightening zone right now — a rising trendline support from below is meeting resistance levels from above, and price is currently sitting right at the middle of this squeeze around 527.
What's Happening
The stock had a big rally from around 420 last year up to a high of 733, then pulled back hard. Since then, it's been finding support along a rising trendline (currently near 500-515), while facing resistance from a falling trendline coming down from the highs (currently around 640).
Right now, price is sitting just above the Immediate Support at 515, and just below Resistance 1 at 579. It's a fairly tight range at the moment — not too far from either boundary.
Key Levels to Watch
Immediate Support: 515
Major Support / Invalidation Zone: 485
Resistance 1: 579
Bigger Trendline Resistance: 640
Two Ways This Can Go
If support holds: A bounce from here, especially with a strong green candle, would be a good sign. First target to watch would be Resistance 1 at 579, and beyond that, the bigger trendline resistance near 640.
If support breaks: A close below 515, and especially below the Major Support/Invalidation zone at 485, would mean sellers are in control, and the broader uptrend structure (from the rising trendline) would be in question.
Beginner's Lesson
When a rising support trendline and a falling resistance trendline start meeting each other, price gets squeezed into a smaller range — like a spring being compressed. This usually means a bigger move is coming eventually, though it's hard to know which direction until price actually breaks one side clearly. That's why we wait for confirmation rather than guessing early.
Conclusion
Hindustan Zinc is at an interesting squeeze point between support and resistance. As always, we're watching for a clear break either way rather than assuming a direction. We'll update once this resolves.
For educational purposes only. Not financial advice. Always manage your risk. CMP: ₹8,885 | POLYCAB @ NSEThe Story So Far
Polycab spent nearly a year (mid-2025 to early 2026) building a base inside a rising channel between ₹7,000–8,300. In April–May 2026, price broke out of the range with a strong bullish marubozu and rallied vertically to an all-time high of ₹10,126 — a clean breakout + trend expansion move.
What's Happening Now
Post the ₹10,126 top, stock is in a healthy corrective phase — today closing -3.58% at ₹8,885. Price is now coming back to retest the breakout zone (~₹8,700–8,900), which was the earlier resistance and is now expected to flip into support. Classic role-reversal retest in progress.
Read
The correction from ₹10,126 → ₹8,885 is roughly 12% off the top — normal, not damaging, as long as the breakout zone holds. As long as ₹8,700–8,900 defends on closing basis, this is a textbook retest of a breakout — one of the highest-probability setups in technical analysis. Trend structure (higher-highs, higher-lows on the channel) is still intact.
Bias: Constructive above ₹8,700. Wait for a bullish reversal candle (hammer / bullish engulfing / inside-bar breakout) in the ₹8,700–8,900 zone with rising volume before entering. If ₹8,400 gives way, correction deepens toward ₹8,000 — still not a broken trend, just a bigger retracement.
Trigger: Behavior in the next 2–3 sessions in this zone will decide the tone. Reversal candle = long setup with SL below ₹8,400, target ₹9,500 → ₹10,126.
⚠️ Disclaimer: This is a personal technical view shared for educational and informational purposes only. It is not investment advice, buy/sell recommendation, or a solicitation to trade. I am not a SEBI-registered analyst. Markets carry risk; past chart patterns do not guarantee future outcomes. Please do your own research and consult a SEBI-registered financial advisor before taking any position. I / my family may or may not hold positions in the stock mentioned. 
Long
CMP: ₹1,385 | CDSL @ NSECMP: ₹1,385 | CDSL @ NSE
Structure
Stock was trading inside a falling channel from July 2025 highs (~₹1,850), with a rising trendline forming from the March 2026 low of ~₹1,200. Price has now broken out of the falling channel with strong volume — a clean structural shift after months of lower-highs.
The Setup Now
Post-breakout, price is doing what a healthy breakout should do — retesting the earlier resistance zone of ₹1,370–1,390, which now flips into support (classic role-reversal / polarity flip). Today's -1.79% dip into this zone is the retest candle, not weakness.
Key Levels
Retest support (must hold): ₹1,370–1,390 (earlier resistance → now support)
Deeper support: ₹1,340 (last defense before structure weakens)
Immediate resistance: ₹1,425 (today's high)
Breakout target: ₹1,500 (upper channel + measured move)
Extended target: ₹1,580–1,600 if 1,500 breaks with volume
Invalidation: 3D close below ₹1,340
Read
As long as ₹1,370–1,390 holds as support on closing basis, the breakout stays valid and the path of least resistance is up. A bounce from this zone with follow-through volume = green light for ₹1,500. If price slips below ₹1,340 on closing basis, breakout fails and stock re-enters the old range — that's the line in the sand.
Bias: Bullish above 1,370. Retest zone offers better R:R than chasing the breakout candle. Ideal entry = bullish reversal candle from 1,370–1,390 with rising volume.
Trigger: Watch how price behaves in this retest zone over the next 1–2 sessions. Hold = continuation. Break = failed breakout.
⚠️ Disclaimer: This is a personal technical view shared for educational and informational purposes only. It is not investment advice, buy/sell recommendation, or a solicitation to trade. I am not a SEBI-registered analyst. Markets carry risk; past chart patterns do not guarantee future outcomes. Please do your own research and consult a SEBI-registered financial advisor before taking any position. I / my family may or may not hold positions in the stock mentioned. 
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