Stake buy: Strategies for ICICI Bank, ICICI Lombard General Insurance

Technically, ICICI Bank is poised for an upside up to 10 per cent, while ICICIGI must sustain over the 200-DMA

Shares of ICICI Lombard General Insurance Company conquered the 200-day moving average (DMA) after January this year, following ICICI Bank announcing buying 4 per cent additional stake in the insurance company.

The overall trend of ICICI Lombard General Insurance has not been lucrative since early 2022. The price action has tumbled 5 per cent so far this year, post plunging 11 per cent the previous year. 

Meanwhile, shares of ICICI Bank are trading closer to its all-time high, with sentiment continues to foresee higher upside. 

On Tuesday, while ICICI Bank shares traded sideways by rising 0.25 per cent, the underlying trend remains on