Attached: ICICIBANK/ HDFCBANK Weekly Chart as of 5th May 2023
The above Ratio Chart is Significantly Bullish and suggests that in the coming Weeks/ Months you will see Money flow from HDFC Bank to ICICI Bank (which means ICICI Bank will relatively Outperform HDFC Bank and you are better off going own ICICI Bank instead of HDFC Bank)
Bullish Evidence as follows:
- Massive Inverted Head & Shoulder Bottom Pattern has formed implying Upside for the Chart
- RSI in a Bullish regime since October 2017
- The RSI Bullish Divergence that started in October 2017 also marked a Trend Reversal point for the Chart, prior to which the Trend was Down
- Higher Highs and Higher Lows clearly point to an Up Trend in this Ratio Chart
- Fundamental Analysis of ICICI Bank too is confirming with this Chart
As an Investor,
you are better off Owning ICICI Bank and Dumping HDFC Bank
And as a Trader,
Long ICICI Bank
ICICIBANK
and Short HDFC Bank
HDFCBANK
makes for a Highly Profitable Pair Trade
The above Ratio Chart is Significantly Bullish and suggests that in the coming Weeks/ Months you will see Money flow from HDFC Bank to ICICI Bank (which means ICICI Bank will relatively Outperform HDFC Bank and you are better off going own ICICI Bank instead of HDFC Bank)
Bullish Evidence as follows:
- Massive Inverted Head & Shoulder Bottom Pattern has formed implying Upside for the Chart
- RSI in a Bullish regime since October 2017
- The RSI Bullish Divergence that started in October 2017 also marked a Trend Reversal point for the Chart, prior to which the Trend was Down
- Higher Highs and Higher Lows clearly point to an Up Trend in this Ratio Chart
- Fundamental Analysis of ICICI Bank too is confirming with this Chart
As an Investor,
you are better off Owning ICICI Bank and Dumping HDFC Bank
And as a Trader,
Long ICICI Bank
ICICIBANK
and Short HDFC Bank
HDFCBANK
makes for a Highly Profitable Pair Trade
Trade aktif:
The Ratio made a Higher High and Higher Low since the Posting of this, so Upside is still in Progress
