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Price and trend forecast of ICICIGI for Tomorrow, Weekly, Monthly

ICICI Lombard General Insurance Company Limited

Symbol: NSE:ICICIGI

ISIN: INE765G01017

1,667.20

As on 2024-04-12

1,055.00 (52W Low) 1,734.90 (52W High)

ICICIGI's Today's Performance

ICICI Lombard General Insurance Company Limited started the day by opening at 1,691.00 today 2024-04-12. Its shares reached a high of 1,696.40 and dipped to a low of 1,655.55 in intraday. When the markets closed, ICICIGI’s stock price settled at ₹1,667.20 per share. Also check out its key support and resistance levels.

ICICIGI Buy/Sell Targets

Tomorrow, sell ICICIGI when its price reaches ₹ 1,667.20 with a stop-loss order at ₹ 1,688.83. You can set the target price as ₹ 1,645.57 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of ICICIGI for tomorrow's session along with weekly support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for ICICIGI

Resistance Levels Value in ₹
Tomorrow Resistance 1 1,691
Tomorrow Resistance 2 1,714
Tomorrow Resistance 3 1,731

Important Supports for ICICIGI

Support Levels Value in ₹
Tomorrow Support 1 1,650
Tomorrow Support 2 1,632
Tomorrow Support 3 1,609
Based on where the stock opens tomorrow, if ICICIGI opens on a positive note, our first target will be ₹1,691. If Target 1 is achieved, we will aim for Target 2 which is ₹1,714.

But if ICICIGI falls below the average value of ₹1,673.05, you can enter a sell side position with target number 1 - ₹1,650 and second target - ₹1,632 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of ICICIGI

Looking at ICICIGI, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, ICICIGI has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for ICICIGI is moderate bearish.

Tomorrow's Volume based share price Forecast for ICICIGI

ICICIGI's Volume is currently in a Decreasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is -17%.

Reversal detection for ICICIGI

Predicted trend chart of ICICIGI tomorrow for price forecast
ICICIGI may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹1696 in morning tomorrow
Target 1 tomorrow1689
Target 2 tomorrow1698
Target 3 tomorrow1714
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with ICICIGI's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if ICICIGI opens on a positive note, our first target will be ₹1,690.55. If Target 1 is achieved, we will aim for Target 2 which is ₹1,713.90.

But if ICICIGI falls below the average value of ₹1,673.05, you can enter a sell side position with target number 1 - ₹1,649.70 and second target - ₹1,632.20

ICICIGI's Weekly Targets
1st Up Target 1,711.62
2nd Up Target 1,756.03
1st Down Target 1,639.17
2nd Down Target 1,611.13

As the week for ICICIGI ended on bearish sentiments, we can expect further continuation of this sentiment. ICICIGI's initial target will be 1,711.62 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 1,639.17 in the upcoming week.

Weekly OHLC Values
Open 1,728.00
High 1,728.00
Low 1,655.55
Close 1,667.20

Week for ICICIGI started with an open price of 1,728.00, and the close was at 1,667.20. ICICIGI reached the highest of 1,728.00 and dipped lowest up to 1,655.55 last week. This indicates a bearish sentiment for the week.

ICICIGI full month swing targets
Monthly Up Target 1 1,784.07
Monthly Up Target 2 1,828.48
Monthly Down Target 1 1,566.72
Monthly Down Target 2 1,466.23

Targets of ₹1,784.07 can be expected to be reached in the coming month. Once ICICIGI achieved this target, we can aim for the next upside target of ₹1,828.48.

ICICIGI if fails to hold upside, down targets of ₹1,566.72 and ₹1,466.23 can be achieved by end of this month.

For complete three weeks if ICICIGI is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as ICICIGI

Symbol Name Industry
HDFCBANK HDFC Bank Limited Banks - Regional
ICICIBANK ICICI Bank Limited Banks - Regional
SBIN State Bank of India Banks - Regional
LICI Life Insurance Corporation Of India Insurance - Life
BAJFINANCE Bajaj Finance Limited Credit Services

Summary

ICICIGI is expected to reach the target of 1,690.55 in tomorrow's trading session.

After achieving the initial target in ICICIGI, we will aim for higher targets of 1,713.90 tomorrow.

However, if ICICIGI starts to trade below ₹1,673.05, then we will shift our focus to the sell side and aim for down targets of 1,649.70 and 1,632.20.