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. Meanwhile, Latent View Analytics and Rashtriya Chemicals and Fertilizers also show a negative trend.
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.
What is the outlook for Latent View Analytics? Can I buy this stock for long term?
Arun A
Latent View Analytics (₹243): The fall below ₹330 in March is a negative. Since then, the stock has failed in its attempt made to rise back above ₹330. That keeps the broader bias negative. Resistance is in the ₹280-₹300 region which can cap the upside in the short term. There is room to see ₹200 and even lower levels on the downside. The stock has to rise above ₹300 first to get some breather. A subsequent breakout above ₹330 is then needed to indicate a bullish trend reversal. But on the charts, the picture is weak. We see high chances for the stock to sustain below ₹300 itself. So, it is better to stay out of this stock for now.
I have bought Rashtriya Chemicals and Fertilizers at ₹110. What is the outlook? Can I continue to hold the stock?
Sammaiah
Rashtriya Chemicals and Fertilizers (₹105): The trend is down and strong since August 2024. Immediate support is at ₹100. A break below it can drag the share price down to ₹90 or even ₹85. On the other hand, if the price manages to bounce back from around ₹100, a relief rise to ₹120 can be seen. Cluster of resistances are there in the broad ₹120-₹130 region. A sustained rise above ₹130 is needed to indicate a bullish trend reversal. But such a rise looks less likely. We see high chances for the stock to stay below ₹120 and fall to ₹90-₹85. Exit the stock now with minimum loss. Once the price goes down to ₹90-₹85, you can consider buying this stock again.
I have bought IRB Infrastructure Developers shares at ₹23. What is the outlook? Can I accumulate now?
Avvaru Venkateswarlu
IRB Infrastructure Developers (₹17.60): The stock has been in a strong downtrend since June 2024. Last month, the price has come down below a crucial support level of ₹18.30. Immediate support is at ₹16.70. A break below it will increase the danger of the share price declining further to ₹14.50. In case the price manages to rise back above 18.30, then a relief rise to ₹21 is possible. The stock has to rise above ₹22 to mark the end of the downtrend and indicate a bullish trend reversal. Only then a fresh rally to revisit ₹40 levels is possible over the long term. But that looks less likely. A fall to ₹14.50 looks more probable. So, you have to exit the stock and accept the loss.