ICICIPRULI - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 3.6

Here’s a detailed technical analysis of ICICI Prudential Life Insurance Company Ltd (ICICIPRULI)

📊 Trend Overview

Current Phase: Reversing from downtrend with weak momentum

Price Action: Trading below both 50-DMA (₹616) and 200-DMA (₹624), indicating bearish pressure and lack of trend strength.

Volume: Below average (6.1L vs 9.7L), suggesting reduced participation and fading interest.

📈 Momentum Indicators

RSI (46.2): In the neutral-to-bearish zone — signals lack of momentum and possible continuation of weakness.

MACD (-5.57): Negative and diverging — confirms bearish momentum.

Bollinger Bands: Price likely near the lower band, indicating oversold conditions and potential for a technical bounce.

🧭 Chart Patterns

Descending Channel: Price has been declining from ₹797 highs, forming lower highs and lower lows.

Base Formation Attempt: Stabilization near ₹600–₹605 zone suggests potential bottoming, but confirmation is needed.

🔍 Support & Resistance Levels

Level Price (₹) Commentary

Support 1 600 Immediate base zone

Support 2 575 Previous swing low

Support 3 517 52-week low

Resistance 1 616 50-DMA, short-term ceiling

Resistance 2 624 200-DMA, trend reversal trigger

Major Resistance 660 Breakdown zone from prior support

🎯 Entry & Exit Zones

Optimal Entry: ₹590–₹605 (on dips with reversal confirmation)

Short-Term Target: ₹624–₹660

Exit Zone / Stop-Loss: ₹575 (below swing support)

🔄 Short-Term Outlook

Momentum: Weak and bearish

Bias: Bearish below ₹616; neutral-to-bullish only above ₹624

Phase: Reversing — attempting to bottom out after prolonged decline

🧠 Key Takeaways

ICICIPRULI is showing signs of bottoming after a steep correction, but momentum remains weak.

RSI and MACD confirm bearish undertone, while price action near support zones hints at potential reversal.

A close above ₹624 with volume could confirm trend reversal and open upside toward ₹660.

Let me know if you’d like a chart visualization or screener of similar reversal setups.

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