ICICI Lombard’s shares surged 19% since the 1423 low hit on September 15, pushing the stock toward 1810 as per analyst Sudeep Shah.
The rally happened in tandem with the June 2024 support zone of 1480‑1420; the RSI leapt from 16 to 67, the MACD crossed above zero, and the ADX trended upward, all indicating bullish strength.
Nykaa trades within a 350‑316 range, has broken its 20‑week EMA, and its MACD signals a quiet uptick; the 34‑day EMA remains a solid support, and the stock is poised to test 365.
Nifty ended the week up 0.44% at 22,250, breaking an eight‑week losing streak; the 200‑week EMA is a critical support, with a key resistance zone at 22,750‑22,800.
Bank Nifty closed the week 1.45% higher at 5,600, trading near its 5,590 support; its MACD bullish crossover hints at limited downside, while a sustainable move above 56,000 could push the index toward 57,000‑57,600.
Investors should keep an eye on the 1810 target for ICICI Lombard and the 365 upside for Nykaa, while Nifty and Bank Nifty look to confirm a breakout above the 22,750 and 56,000 thresholds, respectively.