Hold ICICI Bank, says Shahina Mukadam

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "ICICI Bank has been coming below some important support levels. I would say Rs 222 was a good important support level for the very short-term and below that it could at worst slip to may be Rs 211 to Rs 212. At the same time my advice would be to hold on because if you look at pure valuations, valuations are very attractive at current level." "Yesterday’s credit policy makes me believe liquidity in the system will enable banks to increase their credit. Rates are expected to come down, the worst in terms of non-performing assets is behind us, so all these factors put together, one should hold. This is one of the best managed private sector bank, so in my view one should continue holding for the medium to longer term," she said."I would definitely say one should hold Motherson Sumi. Further one can add at little dips because valuation I would say like in FY17 the company could do an EPS of about may be close to Rs 11-12, so basically valuation is around 25 times at current level. One can buy it at slight dip because it is a bit expensive. Also given the fact that about 85-86 percent of its turnover does come from international markets. There is likely to be some consolidation in terms for growth going forward so, one should hold. May be one can look for a near term target of about Rs 264 and can keep a stop loss of about Rs 235."