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ICICI Lombard General Insurance Company Ltd 

BUY 23 NOV 1640 CALL SELL 23 NOV 1700 CALL Entry Range 16 – 20 Target 48 Stop Loss 9

Rationale

• ICICIGI has witnessed a gradual recovery from its recent swing low, forming a pattern of higher highs and higher lows. The stock is sustaining above its rising trendline support, indicating improving buying interest and a positive shift in the nearterm price structure.

• On the technical front, the stock has moved above its key moving averages of 20-DEMA and 50-DEMA, placed around 1,600 mark, reflecting strengthening bullish momentum. Sustained trading above these averages would further reinforce the ongoing recovery.

• The momentum indicators remain encouraging, with 14-day RSI hovering near the 60 mark, signaling improving strength. Meanwhile, MACD is showing signs of stabilization, supporting the possibility of further upside. Going ahead, 1,700-1,730 zone remain the immediate hurdle area, while on the downside, 1,580 will act as a crucial support zone.

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SEBI Registration number is INZ00017433