Einstein15

LIC HOUSING Channel Breakout

NSE:LICHSGFIN   LIC HOUSING FINAN
LICHSGFIN             has been in a down channel for six months now. Currently on the edge, awaiting a breakout or reversal on account of results.
Comment: Another Setup! HIT THE PLAY BUTTON.!!
After a good leg down, it reached the bottom edge of the channel. Watchout for a reversal/Breakdown.
Great Chart, But today in Weekly Chart shows took support of SMA 200 @ 496
Weekly Charts Shows took support @ 513 and Manage to close above it

whats your view now in Bullish Mode?

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Einstein15 Vinitpowar
@Vinitpowar, THanks for the valuable input.Yes all the value you mentioned looks very precise. But since its a WIKI region, i'd take the bodies of the candles into account too. A lot of bodies n candle fall on 518 and 510 levels.
So one can consider it as an ambiguous zone.? Even if the last candle sit right on 200 ema, the scrip dosent hv a history of bouncing off that ema.((Infact in past it has bounced off the random 400 ema . dosent mean anything though))
It probably may follow NIFTY's direction tomorrow, lets see
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It may test 490 if market will go down...
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Einstein15 nages.rao2011
@nages.rao2011, yea. Nifty;s direction will play its role.
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