Stock India - ICICI Lombard General Insurance Company Ltd For Target Rs.1925 By GEPL Capital
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About the Company
ICICI Lombard General Insurance Company Limited is a general insurance company in India. It is engaged in general insurance, reinsurance, insurance claims management and investment management. The company has a Gross Written Premium (GWP) of ₹135.92 billion (FY 2020). The firm offers policy insurance and renewal through its intermediaries and website. It markets assurance products including Car Insurance, Health Insurance, International Travel Insurance, Overseas Student Travel Insurance, Two Wheeler Insurance, Home Insurance and Weather insurance.
Points to consider
* ICICI Lombard General Insurance has formed an 8 month long ascending triangle pattern on the daily charts. The horizontal boundary of 1610 has been tested several times during the course of the pattern.
* A daily close above 1658 will confirm the breakout from the 8 month long ascending triangle.
* The stock can be bought on breakout with a possible price target of 1925.
* An initial stop loss should be placed somewhere below 1610. We recommend an initial stoploss of 1550.
ICICI Lombard General Insurance Company Ltd. Current Price: ₹1610 | Target: ₹1925
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