I have purchased a Ledger Nano S Hardware wallet.
can i store erc20 tikens in it ??
Yes you can store ERC20 tokens in Ledger Nano S but it supports only less tokens so you can check their official website to know about the list of support currency by that hardware wallet.
But if you want to receive an new token from the ICO it is better to use MEW and then transfer it to any other wallet because most of the wallets not support tokens as MEW.