ICICI LOMBARD GENERAL INSURANCE COMPANY LIMITED (ICICIGI) - A Buy Recommendation

$ICICIGI The stock closed at Rs. 2006.20 on 06th June, 2025. It made a 52-week low of Rs.1530.45 on 05th June 2024 and a 52-week high of Rs.2301.90 on 23rd September 2024. The 200 days Exponential Moving Average (DEMA) of the stock on the daily chart is currently at 1820. The stock had been consolidating in a broader 1830–1900 range for several months, consistently holding above its 200-day exponential moving average (EMA) on the daily chart. After this extended period of consolidation, the stock has recently staged a strong breakout, surging decisively above the key 1900 resistance level. On the higher time frame, the stock is forming a higher low pattern, further confirming its bullish structure. The breakout was accompanied by a significant surge in trading volume, reflecting strong buying interest and likely accumulation of long positions. Therefore, one can accumulate a stock in range of 1980-2000 for the expected upside of 2180- 2200 levels with S/L below 1870 levels.