Almost all the charts of the Insurance sector look pretty similar. A lot of cup and handles and multi year breakouts. Some sloping some horizontal.
The sector can continue to see increasing flows with increasing float ( for example Standard Life selling stake today in HDFC Life.)
There could be some flip flops but the structural trend seems a slow and steady up. Becomes a Ride as well as add on dips.
ICICI Lombard – new all time highs,.
HDFC Life – Retest. Stock under pressure due to the block deal. Time for a bottom today and back to all time highs ?
Max Financial Services – Big Cup and Handle and sustaining 650-660 could catch momentum.
ICICI Prudential Life – Sloping cup and handle. Breaks above the 460 resistance of last 2 weeks.
SBI Life – Sloping Cup and Handle.
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