ICICI BANK UPDATE

ICICI BANK, is trading is at all time highs, also at highs of 2022
It appears solid on charts but making fresh highs against major TIME CYCLES is not a good sign for slightly medium term
In short term it may perform well
But as an investment, this is not an appropriate space to enter
To complete its correction, structurally it has to go sub 600 before another move upto 1200
Historically incomplete TIME corrections have later resulted in mass wealth destruction
Which is also referred as an asset melt down
Same would be applicable to all equities including the most loved NIFTY
In INDIA there are no such examples
But in U.S. last time it happened back in 1929
Where prices kept making new highs, despite bearish TIME CYCLE
And suddenly markets collapsed like anything
Hope that history do not repeat again
But need to be prepared for such things
If market scales new highs
Then this could be a reality
Letz se
How things shape up from here
For me this is a good time to sell some holdings and raise cash levels