ICICIPRULI | Cup and Handle | Breakout | Daily

Here's the **technical analysis** for **ICICI Prudential Life Insurance (ICICIPRULI)**

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### 📝 **Technical Analysis – ICICI Pru Life (Daily Timeframe)**

**Pattern Identified:** ✅ *Cup and Handle Breakout*

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### 1. **Chart Pattern Overview**

* A **classic Cup and Handle pattern** has formed and confirmed a breakout.
* The breakout happened above the **₹622** resistance level — this is now a **support**.
* The pattern signals a **bullish continuation**, with increased demand post-breakout.

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### 2. **Volume Analysis**

* Volume spiked significantly during the breakout from the handle, suggesting strong **institutional participation** and high conviction buying.
* Volume > 850K, well above the 20-day average — a **positive confirmation**.

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### 3. **Price Action & Strength**

* Stock is currently trading at **₹658**, comfortably above the breakout zone.
* Strong follow-up candles indicate **momentum continuation**.
* No signs of bearish reversal or heavy profit booking.

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### 4. **Target Projection**

* **Cup Depth** = ₹89.80
* **Breakout Point** = ₹622
* **Target Price** = ₹622 + ₹89.80 = **₹712.00**
➤ Potential upside: **8%** from current levels

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### 5. **Support & Stop-loss**

* **Support** = ₹622 (previous resistance)
* **Aggressive Stop-loss** = ₹640
* **Conservative Stop-loss** = Below ₹622

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### 6. **Trend & Sentiment**

* Overall trend is **bullish**, and the stock has broken out of a multi-month consolidation.
* Sentiment is turning favorable with improving volumes and structure.

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### ✅ **Conclusion**

* **Pattern**: Cup and Handle Breakout
* **Target**: ₹712
* **Current Price**: ₹658
* **Support**: ₹622
* **Action**: **Buy on dips**, with SL below ₹622 for swing targets.

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