ICICI Prudential Life Insurance Co Ltd Stock Forecast
Weaker technical forecast for ICICI Prudential Life Insurance Co Ltd as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)
The ICICI Prudential Life Insurance Co Ltd stock price gained 0.0260% on the last trading day (Friday, 3rd May 2024), rising from ₹576.55 to ₹576.70. During the last trading day the stock fluctuated 2.14% from a day low at ₹572.75 to a day high of ₹585.00. The price has risen in 5 of the last 10 days but is still down by -1.95% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately ₹819.22 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹566.52 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 17.97% during the next 3 months and, with a 90% probability hold a price between ₹668.33 and ₹769.38 at the end of this 3-month period.
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ICICIPRULI.NS Signals & Forecast
There are mixed signals in the stock today. The ICICI Prudential Life Insurance Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹592.45. On a fall, the stock will find some support from the short-term average at ₹569.91. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -8.31%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for ICICI Prudential Life Insurance Co Ltd stock
ICICI Prudential Life Insurance Co Ltd finds support from accumulated volume at ₹575.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹12.25 between high and low, or 2.14%. For the last week, the stock has had daily average volatility of 2.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ICICIPRULI.NS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect ICICI Prudential Life Insurance Company Limited to open at ₹578.15, and during the day (based on 14 day Average True Range), to move between ₹560.08 and ₹593.32, which gives a possible trading interval of +/-₹16.62 (+/-2.88%) up or down from last closing price. If ICICI Prudential Life Insurance Company Limited takes out the full calculated possible swing range there will be an estimated 5.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹576.85 (0.03%) than the support at ₹575.65 (0.18%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is ICICI Prudential Life Insurance Company Limited stock A Buy?
ICICI Prudential Life Insurance Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.950 Sell Candidate Downgraded
Predicted Opening Price for ICICI Prudential Life Insurance Company Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹578.15 ( 0.251%) | ₹576.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ICICIPRULI.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 590.40 | 2.38 % | |
| R2 | 585.72 | 1.56 % | ||
| R1 | 582.83 | 1.06 % | ||
| Current price: | 576.70 | |||
| Support | S1 | 573.47 | -0.560 % | |
| S2 | 570.58 | -1.06 % | ||
| S3 | 565.90 | -1.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 620.00 | 7.51 % | |
| R2 | 600.30 | 4.09 % | ||
| R1 | 576.85 | 0.0260 % | ||
| Current price | 576.70 | |||
| Support | S1 | 575.65 | -0.182% | |
| S2 | 572.90 | -0.659% | ||
| S3 | 553.70 | -3.99% |
ICICIPRULI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 13, 2023 | Jul 13, 2023 | Jul 13, 2023 | ₹0.600 | 0.100% |
| 2 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | ₹0.550 | 0.106% |
| 3 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | ₹2.00 | 0.346% |
| 4 | Sep 26, 2019 | Oct 31, 2019 | Nov 21, 2019 | ₹0.80 | 0.160% |
| 5 | Apr 24, 2019 | Jul 09, 2019 | Aug 16, 2019 | ₹1.55 | 0.398% |
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