LIC Housing Finance-Bullish Swing

Aug 27

LICHSGFIN


27.08.2024
Buy-Above 485 after crossing 21 EMA
Target- 775
Stop Loss-624
Risk Reward- 1:1.5

With very good uptrend from past one year, price has reached all time high
but couldn't able to break. Now again it is trying to climb the same level to break and
create new ATH.

1.Bullish engulfing against last 3 candles
2. Price rejection continuously from the parallel support level. Reject rejection is with 200 EMA
3. Continuous 3 green candles formation in weekly TF.
4.Volumes decreased in red candles during breakdown and now increased volumes found in green.
5. Rejection from 0.5 Fibonacci level again at same support level.
6. Stock bounced from over sold level and now into bullish RSI zone after crossing 40 RSI