Q.I have bought ICCIBANK share @394.50. Should I sell it for losses?
Ans. Well, ICICI bank is a fundamentally strong stock, however our profits always depend on “ At what price we brought “ then “what Stock we brought” because even if we have brought a good stock at a higher price, the returns would not be great and it’s going take a lot of time and patience of a trader, however the only good thing with good strong stock’s are that we may not lose the money.Now coming to your question about ICICI Bank. Interestingly the above explanation matches your question. Because the price at which you brought the ICICI Bank stock is the highest in the last 3–4 months.
The price of 394.2 is the highest and lowest being at 318.
340 is acting as strong support.
380 will act as a strong Resistance
Now the stock is trading at 358.75, In my opinion, hold the stock .. Buy more if possible near to 340. So that u can get ur average price down to 370 or below. I am expecting the prices to come down a little, correction is pending so “ BIG NO “ to buy at this level.
