ICICI Prudential Life Q1: Positive Results Could Lead Stock To Fresh All-time Highs, Says SEBI RA Rohit Mehta

The stock is forming a rounded bottom pattern on the weekly chart ahead of its Q1 results

ICICI Prudential Life Insurance is displaying a bullish technical structure ahead of its Q1FY26 results, due later on Tuesday.

The stock is currently trading at ₹675 and forming a rounded bottom pattern on the weekly chart, an indicator of long-term bullish reversal, said SEBI-registered analyst Rohit Mehta.

With strong support seen between ₹605 - ₹626 and resistance near its all-time high of ₹796.95, the stage is set for a potential breakout if earnings support the momentum, Mehta added.

Investor sentiment appears cautiously optimistic. Foreign Institutional Investors (FIIs) increased their stake from 12.78% to 13.24% in the March quarter, while promoter holding remained stable at 73%. However, domestic investors (DIIs) trimmed their exposure slightly.

On the fundamental side, the company reported a sharp growth quarter-over-quarter for its Q4 results, even as year-on-year sales declined. Despite concerns like low return on equity at 9.01% and high valuation at 8.04x of book value, the turnaround in core earnings and improved profitability could drive renewed buying interest, the analyst said.

With the stock trading well above support and heading toward resistance, a strong Q1 could act as the trigger for retesting the ₹800 zone, he said.

Year-to-date, the stock has gained 2.5%.

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