ICICI, Latent View, and more: Are these stocks 'stuck' or ready to rally?
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓ICICI Prudential AMC shares fell below the key support level of ₹2,940 last week.
- ✓Experts said the stock needs to cross ₹3,000 to turn positive, but current signals remain weak.
- ✓Investors got advice to exit now.
Story at a Glance
- Category
- MARKET
- Reported By
- Business Line
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
I have ICICI Prudential Asset Management Company (AMC) shares. My purchase price is ₹2,165. What is the long-term outlook?
N Vijay
ICICI Prudential AMC (₹2,812): The stock has broken a very important support level of ₹2,940 last week. Strong resistance is now in the ₹2,950-₹3,000 region. The stock has to rise past ₹3,000 to turn the sentiment positive. Ideally, from a long-term perspective, the stock has to breach ₹3,200 to become convincingly bullish. Only then the upside will open up for a fresh rise to ₹3,600 and higher. But such a rise looks less likely. As long as the stock stays below ₹3,000, there is a danger of seeing ₹2,650 and even lower. Moving Average indicators are also giving negative signals. A death cross on the daily chart strengthens the bearish case. So, it is better to exit the stock now and book your profit.
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