ICICIPRULI - Technical Analysis

Last Updated Time : 02 Aug 25, 12:58 am

Technical Rating: 2.9

Here’s a full-spectrum technical check on ICICIPRULI, highlighting chart signals, price dynamics, and where the stock might be headed

📉 Trend Diagnosis

Current Price (₹616) is trading below both the 50-DMA (₹636) and 200-DMA (₹630) → classic indication of bearish pressure.

Since hitting its high of ₹797, the stock has been in a gradual downtrend with lower highs forming.

🧭 Trend Status: Reversing downward, though nearing oversold levels.

📈 Momentum Indicators

RSI (37.6): Skimming the oversold boundary → hints at bounce potential but no confirmation yet.

MACD (-7.19): Deep negative territory → confirms continued weak momentum.

Volume: Slightly above 1-week average → could indicate accumulation attempts near recent lows.

🔍 Momentum still favors sellers, but early signs of short-term base-building.

🧮 Bollinger Bands

Price likely gravitating toward the lower band → indicating possible oversold condition.

Band width is still moderate, suggesting absence of a strong breakout or squeeze setup.

🔧 Support & Resistance Levels

Zone Type Price Zone (₹) Description

Support 600–610 Technical support from recent lows

Resistance 635–640 Resistance near 50-DMA & psychological level

Breakout Zone 645+ Requires MACD crossover and volume surge

🎯 Trade Strategy

Entry Zone: ₹605–₹615 (accumulate near support with momentum rebound setup)

Exit Zone: ₹635–₹640 (test resistance, partial booking ideal)

Stop Loss: ₹595 (breach below recent swing support)

📌 Conclusion

ICICIPRULI remains in a technical downtrend, though the bounce possibility is brewing with improving volume.

Short-term traders could scout an oversold reversal play, but confirmation is key—watch MACD and RSI closely.

Long-term investors may prefer a wait-and-watch approach until ₹645+ sees strength and sustained volume.

Want to compare this setup with other insurance sector peers or explore how valuation overlays technical signals here? I can run a few strategic scans for you 📊🛡️

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