Technical Analysis of Indian Equities by Nooresh

Sector in Focus–Insurance. HDFC Life, Max Financial, SBI Life, ICICI Prudential, ICICI Lombard

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,.

ICICI Lombard

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.

ICICI Prudential

SBI Life – Sloping Cup and Handle.

SBI Life blog

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Article by Nooresh Merani

Nooresh has written 2799 articles.

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