Friday, February 3, 2017

Ujjivan and ICICI Pru Life - Recent IPOs with an attractive proposition

Ujjivan  and ICICI Pru Life are the two IPOs launched in recent past. Both the stocks are looking lucrative now.

Lets go one by one:
Ujjivan has strongly surpassed its major resistance yesterday to close near 424. You can see on the chart below that that after posting high near 530 the stock has seen a healthy correction which took the stock to around 275. This was very near to its listing price of 230.
Here on we can expect the stock to continue the momentum.
ICICI Pru Life after its listing in Sep 2016, was trading in a broad range between 330 and 285. The stock has broken out of this range on 10th Jan. It then went up to post a new high of 363.50. The stock then went into a correction and tested its breakout level as shown on chart. We can expect the stock to continue to trade with same momentum.

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