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The short-term outlook is bullish for ICICI Securities. The stock began the week on a strong note and surged 3.5 per cent on Monday. This signals that a new leg of upmove has begun. Strong support is in the ₹500-495 region. Intermediate dips can be limited as fresh buyers are likely to come into the market at lower levels. ICICI Securities share price can rise to ₹545-550 over the next couple of weeks.
The upside can extend even up to ₹585 over the next four weeks. Traders can go long now. Accumulate on dips at ₹505. Keep the stop-loss at ₹490. Trail the stop-loss up to ₹520 when the price rises to ₹530. Move the stop-loss further up to ₹540 as soon as the share price touches ₹555. Exit the long positions at ₹570.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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