Buy ICICI Pru above 360+, high risk-reward ratio
The current price of 345+ is near the bottom with 360+ being the firm resistance level. If it crosses this level with conviction over short term, the potential is quite high due to the higher ceiling of previous cycles going upto +450.
Bottom line
Enter @ 360+
Stoploss -345
Potential + 450
Key resistance on path - 385/ 395 - previous pivots
Risk reward: 15:60 - i .e. at least 1:4 assuming target of around 420 (use trailing stop loss rather than a target)
Overall bullish bias driven by the strong fundamentals of the stock - making it s a very safe bet in an up-trending nifty!
Bottom line
Enter @ 360+
Stoploss -345
Potential + 450
Key resistance on path - 385/ 395 - previous pivots
Risk reward: 15:60 - i .e. at least 1:4 assuming target of around 420 (use trailing stop loss rather than a target)
Overall bullish bias driven by the strong fundamentals of the stock - making it s a very safe bet in an up-trending nifty!
Penafian
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