The upmove in ICICI Securities is slowly gaining momentum. The 2.8 per cent rise on Tuesday has taken the share price well above the ₹855-₹860 resistance zone.
Prior to this rise, the stock has formed a strong base above ₹820. The short-term outlook is bullish. The broad ₹865-₹855 region is likely to provide support going forward.
ICICI Securities share price can rise to ₹930-₹950 in a week or two. A break above ₹950 can take the stock up to ₹980 and higher eventually in the short-term. Traders can go long now at ₹882.
Accumulate on dips at ₹870. Keep the stop-loss at ₹830. Trail the stop-loss up to ₹895 as soon as the stock goes up to ₹910. Move the stop-loss further up to ₹920 when the price touches ₹945. Exit the longs at ₹975.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)