ICICI Bank : Trade SET UP

I hold a neat intention to catch ICICI bank on long side.
Just knowing the direction in which you want to trade is not enough to make money.

Its vehicle you chose to trade , its your trade initiation timing , closing timing , SL ,trail SL skills , risk managment ,and many other aspects which are never talked about.

Unlike other blogs , I will not go with distributing gyan about markets or trading , but once I set up a trade , that has to follow my rules.

I define my Rules for my Trade for minimum damage if any.

Lets dig up Icici ,

Posted a fantastic results on friday , but it dipped. I was not expecting it honestly , but the downside market force was too strong on friday to allow some profit booking on already rallied counter.

I will still go to attempt a LONG trade catching on Monday .

Expectation : Daily MACD crossover if it takes place , can mint cool money.
               2,5 min have started posting positive divergence
               30 min macd still remains the concern , its all bearish.

RSI is NOT oversold.
Volumes are present at these levels.
5EMA trades above 13EMA and 13 above 22 EMA.
Prices stay above all major moving avergaes.
Weekly chart stay bullish.

Money if cannot be made, it CAN be protected.. Its all in your mind.

STRONG EVENT such as RBI policy is there on tuesday and bank nifty will be the most expected  show stopper.
Though whipsaws can kill SL quickly , I will post the exact ENTRY point in ICICI bank during market timings.

Its advised to initiate the trade POST the event , but lets leave it for Monday and the counter spot price , upto what time frame we are trading the script.