Icici prudential sorting opportunity technical analysis.1. Reversing from inverted h&s neckline.
2. Can be sold on cmp or on rise.
3. SL & Targets are marked by position tool.
4. Orange trendline poked and reversed.
ICICIPRULI trade ideas
Trade/Investment Idea In ICICIPRULIFE (on Weekly Chart)STRENGTHS:
Strong Momentum: Price above short, medium and long term moving averages
Company with Low Debt
Company with Zero Promoter Pledge
Near 52 Week High
WEAKNESS:
Poor cash generated from core business - Declining Cash Flow from Operations for last 2 years
Declining Net Cash Flow : Companies not able to generate net cash.
OPPORTUNITY:
Decrease in Provision in recent results
THREATS:
Companies with growing costs YoY for long term projects
High PE (PE > 40)
Promoter decreasing their shareholding
Quick Results Snapshot:
H1FY24 Bi-Annual Result Announced for ICICI Prudential Life Insurance Company Ltd.
ICICI Prudential Life Insurance Company announced H1FY24 results:
ICICI Prudential Life Insurance has registered a 27% growth in its Profit after Tax (PAT) to Rs 4.51 billion for H1FY24
The Value of New Business (VNB) stood at Rs 10.15 billion with a VNB margin of 28.8% for H1FY24
The total Annualised Premium Equivalent (APE) for the Company stood at Rs 35.23 billion, with minimal concentration risk from any single distribution channel.
In H1FY24, the retail protection business segment APE grew by 73.7% YoY, resulting in a protection mix of 20.8% of overall APE.
The Company’s retail New Business Sum Assured (NBSA) grew by 52% YoY to Rs 1.1 trillion in H1FY24. The total NBSA stood at Rs 4.9 trillion in H1FY24.
The 13th-month persistency ratio improved by 100 bps to 86.9% for H1FY24. The 49th month persistency ratio, improved by 220 bps to 65.8% for H1FY24.
The Assets Under Management (AUM) grew by 11.3% YoY to Rs 2.7 trillion on September 30, 2023.
Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance said, “We serve a crucial societal need of providing financial security to millions of families by helping them achieve their protection, retirement, health, and long-term savings goals. In H1FY24, our VNB stood at Rs 10.15 billion, with a margin of 28.8%, while PAT grew 27% year-on-year to Rs 4.51 billion. We are focused on growing the absolute VNB with the help of our 4D framework comprising Data analytics, Diversified propositions, Digitalisation, and Depth in Partnerships, to develop quality business in a risk-calibrated manner.
The retail protection business, which faced supply-side challenges in the past has come back on track. The retail protection APE registered a strong YoY growth of 73.7%, resulting in a total protection APE of Rs 7.34 billion in H1FY24. We believe protection, given the under-penetration in the country, presents a significant growth opportunity for us.
Persistency is the most effective indicator of the quality of sales and customer experience. Our 13th and 49th-month persistency ratios in September improved by 100 bps to 86.9% and 220 bps to 65.8% respectively. The customer’s continued trust in us is reflected in the improvement in persistency ratios across all cohorts.
We recently launched the first-of-its-kind ‘ICICI Pru Stack’, a set of platform capabilities encompassing digital tools and analytical abilities. We believe the key to market expansion is in getting the customer-product-channel equation correct – the right product to the right customer at the right price through the right channel. The ICICI Pru Stack has facilitated customer segmentation, enabling us to extend ‘Term By Invite’ and ‘Insurance By Invite’ offers to customers, besides providing them with an end-to-end digital fulfillment journey from buying to claim settlement. The Stack has enabled the Company to issue ~20% of the policies on the same day for the savings line of business.”
SHAREHOLDINGS:
Icici Bank Limited PROMOTER 51.2 %
Prudential Corporation Holdings Limited PROMOTER 22.1 %
Camas Investments Pte. Ltd. FII 1.8 %
Government Of Singapore FII 1.6 %
Compassvale Investments Pte. Ltd. PUBLIC 2.0 %
Sbi Arbitrage Opportunities Fund DI 2.0 %
Icici Prudential S&P Bse 500 Etf DII 1.0%
Thats all for now.
N.B : I wanted to emphasize that the views I express are strictly personal and should not be construed as advice. It is crucial to consult with your financial advisor before making any trades or investment decisions. The complexity and unpredictability of financial markets underscore the importance of seeking professional guidance tailored to your individual financial circumstances and goals.
ICICI Prudential Insurance Weekly Analysis Preparing InvertedICICI Prudential Insurance Weekly Analysis
Preparing Inverted head and Shoulder Pattern ( on verge of Breakout)
Buy above closing 600 above only
Target 750- 900-1000-1200-1500+
SL 450 ( Candle closing basis)
holding period 2-3 years
ICICI prudential... all ready to rockhave been keeping eyes on ICICI prudential from very long... now seems like its gonna shoot sky rocket.
ADD FRESH POSITIONS TODAY
ICICIPRULI - Weekly AnalysisIn the Weekly Chart of ICICIPRULI ,
we can see that, it is about to give Inverted Head & Shoulder breakout.
Also, it is looking very strong and bullish.
Let it retest the trendline.
Expected momentum is shown in chart.
Momentum Swing Idea| ICICI Prudential Life Insurance Company Ltd ICICI Prudential Life Insurance Company Ltd
ICICI Prudential Life Insurance Company Ltd carries on business of providing life insurance, pensions and health insurance products to individuals and groups.
Market Cap ₹ 83,099 Cr. Current Price ₹ 577
Stock P/E 91.1 ROCE 10.0 % ROE 8.45 %
Debt to equity 0.11 Promoter holding 73.3 %
Quick ratio 1.10 Current ratio 1.10 Piotroski score 5.00
Profit Var 3Yrs -8.65 % Sales growth 3Years 33.0 %
Return on assets 0.33 %
This in in momentum stock with brand recognition. This purely chart pattern analysis.
Rsi above 55. keep in radar.
Note: I am not SEBI registered financial Adviser. I solely present my views on chart .I do not charge any kind of service. This is not buy sell recommendation.
If you like my ideas than like boost and follow me for more ideas.
Thanks and comment freely
Swing Trading Idea in ICICI PRU LIFESYMBOL - ICICIPRULI
There is a flag & pole pattern on daily time frame in ICICI PRU LIFE.
CMP is 520
I am taking long position in march futures here at CMP for 560-590 target.
Stoploss would be 498.
It is in good support zone & consolidated here. I think it is ready to blast. After breaking out above 530, It will move towards 560 & 590 very fast.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
ICICIPRULIThe following observed in the stock:-
1. Bulish Flag Pattern.
2. Breakout from the downtrend.
3. MACD is positive on weekly and daily time frame and crossed centre line.
4. RSI is supper bullish on weekly and daily time frame.
So, 615 and 650 levels can be expected in the Mar series, 560 CE with 540 PE is good to hold for Mar series.
5.
ICICI PRUDENTIAL FORMING COMPLEX CUP AND HANDLE PATTERNThe stock has been forming a beuatiful complex cup and handle pattern which exhibits mulitple handles or cups moreover it has been quite long consolidation phase for the stock . It has touched the crucial resistance level of 606 5 times and is expected to do so again in couple of weeks , upon reaching that it can give colossal breakout as the resistance level has been tested for multiple time making it susceptible to breakout . the target for the same is 607 and 822 levels
ICICI PRUDENTIAL * Up side trend line break out.
* Looking good at this place
* Buy bullish pattern or Retest
* Only educational purposes
ICICIPRULIICICI PRUDENTIAL looks like forming Inverted Head & Shoulder.( I-H&S )
Currently right shoulder is forming. Looks like reversing, but not yet confirmed.
Just a technical pick as Fundamentals doesn't look good.
Need to cross Monthly Resitance to confirm I-H&S breakout. SL & Targets are given as T1, T2, T3.
ICICI PRULI: Good to go LongICICI PRULI is good on fundamentals.
Price action is showing strength. Do keep this stock in your watchlist.
Descending Triangle Pattern in ICICIPRULI - Time to go Long?SYMBOL : ICICI PRU LIFE
Currently trading at long term support zone of 500-510.
A descending triangle pattern in making.
Breakout of this pattern will lead to 545-562 & 580.
Long position can be taken at CMP 514-515 with SL of 500.
ICICI PRULI MIGHT GIVE AN UP MOVEICICI PRULI might give a good swing or positional trade
Entry after sustaining between 488-490
Stoploss at 478
targets will be at 500,510,512++
Note: if any trade or value has gone from the place we decided to enter then thats not our trade wait for it to come back or let it go
I am not sebi registered this is my personal view
SHORTSELL ICICIPRULIICICIPRULI- Stock seems to be wk from current trading zone of 545-50 shorting opportunity with an sl of 558 can give a target of 500+ in upcoming sessions.
ICICIPRULI - Hindsight AnalysisA Higher High Higher Low structure on price action is considered as an uptrend.
- In the weekly chart, identify the first break of Higher High after a Lower High.
- Wait for Higher High retest and enter somewhere close to it.
- Cannot expect a stock to test the exact same value.
- Set SL as previous HL or in cases where there are other lows close by, choose the lowest one.
- Calculate the possible loss assuming the stock hits SL
- If you are OK with the calculated loss, enter.
- Trail the SL at every new Higher Low.
- Wait for breakdown of a Higher Low OR Target.
ICICI Prudential - a combination of head and shoulders & double On the weekly chart, there is a tilted neckline head and shoulders and a double bottom created on a recent past few weeks' candles. It is giving a bullish momentum to the stock that can make the stock march towards its all-time high. A perfect volatility contraction is seen from a longer time to higher time.
icici pruli can give a good break outicici pruli can give a good break out if sustains above 547
entry at 547 if sustains properly
Stoploss at 538-39
swing targets like 554,563 and above
Note: if any trade or value thats gone from the place we decided to enter then thats not our trade wait for it to come back or let it go
I am not sebi registered this is my personal view
ICICIPRU trading ideaThe stock has formed a downward channel in the past few days which was retested by the stock. The price is likely to move around in the same direction for the next few days.
however, there is a strong support near the 505price range. If it breaks that support, the idea will be further strengthened. If it takes support, wait for the reversal confirmation
ICICIPRULI - Weekly AnalysisIn the Weekly Chart of ICICIPRULI ,
we can see that, it is taking support on same level.
Expected momentum is shown in chart.
Stock to watch Trading near support 505/510
Likely to bounce back
It is just an idea
Trade or invest at your own risk
Consult your financial advisor before Trading or Investing.
