ICICI Lombard General Insurance Co. Ltd. (ILGI) is the largest private sector non-life insurer in India. Its products include motor insurance, car insurance, two-wheeler insurance, health insurance, complete health insurance, health booster, personal accident insurance, international travel insurance, home insurance, marine insurance, business insurance, third party insurance and crop insurance. It also offers various services, such as grievance redressal, retrieve quote, intimate claim, marine/property claims, live chat and renew policy.

ICICI-Lombard-chart12019-11-30

 

SHORT TERM PERSPECTIVE

Company ICICIGI
Recommendation Accumulate (Rs.1340-Rs.1345)
CMP Rs.1362.90
Stop Loss (SL) Rs.1280
Target Price Rs.1450
Time Horizon 2-4 Weeks

 

ICICI-Lombard-graph2019-11-30

Source: Capitaline Database, EWAL Research

 

Intermediate and long term trend is up in this stock. From last 10 days stock is trading in a tight range between 1330-1380. Even after a correction, stock is trading above all the major moving averages which indicate that stock is moving in uptrend mode. A bullish RSI and MACD buy signals has emerged on daily chart. Increasing in volume and positive diversion from oscillator indicate that stock can move higher from current level so one can accumulate between Rs. 1340 – Rs. 1345 with a stop loss of Rs. 1280 (on closing basis)  for the target price of Rs. 1450. Time frame should be 2-4 weeks.

 DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

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