Long-term outlook is bullish for ICICI Lombard General Insurance Company (₹2,007). The stock is getting strong support from its 100-Week Moving Average (WMA), currently at ₹1,835. A long-term trend line support is also poised around this level. So, that makes ₹1,835 a very strong support. A short-term resistance is at ₹2,150. A strong break above it will indicate a bullish inverted head and shoulder pattern on the chart. That will strengthen the bullish momentum and trigger a fresh rally. The region between ₹2,150 and ₹2,070 will then become a good support zone. That in turn can take the share price up to ₹2,600 over the next one year. Long-term investors can buy ICICI Lombard General Insurance Company shares now at ₹2,007. Accumulate on dips at ₹1,885. Keep the stop-loss at ₹1,660 initial
Technical Call: ICICI Lombard General Insurance Company
Businessline5 hrs ago
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