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⭐️ Ultra Equity Advice #107 | Buy | Expected Profit 6-8% | Arijit Banerjee

OUR RECOMMENDATION

  Buy    ICICI PRUDENTIAL LIFE INSURANCE COMPANY  

CP#481.5
IdeaBUY
Buy Range478 – 488
Target510 – 520
StopLoss*470
Duration12 – 15 Trading Days
Potential Returns^6 – 8%
CP#IdeaBuy RangeTargetStopLoss*DurationPotential Returns^
481.5BUY478 – 488510 – 52047012 – 15 Trading Days6 – 8%

# CP – closing price on Jan 17, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 496.
^ Potential returns are calculated based on the median of buy range.

COMPANY OVERVIEW

Incorporated in 2000, ICICI Prudential Life Insurance Company Limited provides life insurance, health insurance, pension plans, retirement insurance products and pension fund management service to individuals and groups in India. This is one of the first private sector life insurance companies in this country which a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited and commenced operations in fiscal 2001. In Q2FY20 the company’s net profit was improved by 6.04% to Rs.301.84 crore in QOQ basis.

Stock Data
NSE CodeICICIPRULI
Sectoral IndexFinancial Services
52W High537.3
52W Low277.35
Face Value10
Relative Performance_ICICI Prudential LIC vs Nifty Financial Services

TECHNICAL OBSERVATIONS (WEEKLY)

  • Technically the stock had been moving in a consistent uptrend – making higher highs as well as higher lows on the weekly chart.
  • This rally coincides in an Upward slopping channel where the lower end had been tested several times in the past – thereby making it reliable support.
  • Presently, the stock price has placed near the lower end of the channel, indicating an opportunity for a BUY trade. Buy low, and Sell High is the strategy here to go Long this stock as per the levels mentioned above.
ICICI Pudential Life Insurance Technical Analysis - Weekly Chart
ICICI Pudential Life Insurance Technical Analysis - Weekly Chart

LIVE UPDATE - POSITION & ACTIVITIES

Position: Long ICICIPRULI at ₹ 482.70 | Goodluck Capital by GoodluckCapital on TradingView

Position: Long ICICIPRULI at ₹ 482.70 | Goodluck Capital by GoodluckCapital on TradingView

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MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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