ICICI PRU­DEN­TIAL

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I have pur­chased ICICI Pru­den­tial at Rs 378 level. Shall I hold or exit? - Bala­sub­reh­ma­niam CK

HOLD ICICI PRU­DEN­TIAL LIFE IN­SUR­ANCE COM­PANY FOR NOW

ICICI Pru­den­tial is cur­rently trad­ing at Rs 320. Its 52-week high/low stand at Rs 462/Rs 302 made on May 11, 2018 and Oc­to­ber 8, 2018, re­spec­tively. The stock was trad­ing in a range pat­tern from nearly Rs 360 to Rs 450-460 lev­els since Septem­ber 2017. The stock gave a range break­down on July 16, 2018, fol­lowed by a sharp pull­back near to the 61.8% re­trace­ment of the prior down­ward move. The stock re­treated and retested the down­ward trend­line. The stock hit a Doji at its 52-week low level and has bounced back sup­ported by the 14-pe­riod RSI pos­i­tive cross­over just above the over­sold zone. The stock may give a sharp short-lived up­side, which is its ten­dency. We sug­gest you to hold.

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