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.