Is It A Good Time To Buy ICICI Prudential? #AskBQ

#AskBQ is BloombergQuint’s daily offering where market experts help investors make the right investment decisions in the equities market.

In this episode, Brijesh Singh of StockAxis and Sandeep Jain of Tradeswift Broking gave their views on ICICI Prudential, Quess Corp, kei Industries many more.

Watch the full interaction here:

Edited excerpts:

Navneet Kumar: I am holding 100 shares of Asian Granito at Rs 430 apiece. Should I average at current levels?

Sandeep Jain: I would not suggest averaging at current levels as the stock has touched a 52-week low, you may look to average at Rs 300-310. I would recommend holding on to the stock.

Sumit KK: What strategy should one use for a sideways market that one has seen on Nifty as well as Bank Nifty ?

Brijesh Singh: 10,600 is an important support level for the Nifty. Any rise should be used for selling rather than buying. One can look at shorting the Nifty at 10,740 levels with a stop loss of 10,780 and a target of 10,675. 10,600 will be the next target for any closing below 10,675. At this point of time, buying should be avoided in Bank Nifty, dips should be looked as buying opportunities.

Atrayee: When should we restart buying into pharma stocks?

Sandeep Jain: All the stocks have actually gone up very fast in the last 8-9 sessions. Stocks such as Lupin and Torrent Pharma are doing well, and one should wait for some correction to enter these stocks.

Abhishek Gupta: Is it good to hold on to Kei Industries? Can I buy more at current levels?

Brijesh Singh: One can average at current levels but keep a strict stop loss of Rs 395.

Venkatesh: I bought 200 shares of Quess Corp. What can be the target price?

Sandeep Jain: The stock has seen profit booking since Rs 1,300 level. On the downside, major support lies at Rs 1,125-1,130, if it breaks it can go down to Rs 1,025-1,030 levels. Hold on with stop loss of Rs 1,125-1,130.

Abhishek Chauhan: Should I sell Infosys and migrate to TCS?

Sandeep Jain: You can hold on to both. Things have started changing at Infosys post management rejig. You can buy TCS at current levels and tender it in the buyback. At these levels--with 15-20 percent upside--one should not exit Infosys.

Abhinav Sinha: I have 2,400 shares of Vikas Ecotech at Rs 20.8. Should I buy more or sell ? Can hold it for the next 2-3 years?

Sandeep Jain: The stock has been in buzz. I would suggest to relook at fundamentals and governance, and recommend not buying this stock.

Aditya Nair: Kindly give a short-to-medium-term view on two stocks: Thomas cook and Kakatiya Cement.

Brijesh Singh: You may take fresh position in Thomas Cook, keeping a stop loss of Rs 250. For Kakatiya Cement, you can take a buy call once it comes below Rs 240, keeping a strict stop loss of Rs 220.

Sarbjeet Singh Sidhu: Is it the right time to buy ICICI Prudential with a long-term view?

Sandeep Jain: It is certainly a good buy. The stock is cheaper compared to the other players in the segment.

Harsh Kumar: Please advice on technical analysis level to watch out for Bharat Electronics and ITC for fresh Entry.

Brijesh Singh: I would not recommend buying Bharat Electronics at the current juncture. One can take a buy call in ITC keeping a stop loss of Rs 240.

Analysts’ disclosure: Both the analysts do not have any financial interests and do not hold any stocks discussed today.

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