JyotiSahoo
Long

LIC Housing Finance -Obstacles ahead but bullish chart

NSE:LICHSGFIN   LIC HOUSING FINAN
We see that the major support was at 575 and it is very unlikely to fall beyond that point. I suggest a SL at that point . well if you want less risk 593 must be a SL for you. Now the graph shows major support and resistance levels.
R1 613, R2 626 ( these resistance do coincide with fib levels)
S1 593 S2 575
overall sector is bullish so i think it should recover.
626 saw a bearish reversal pattern that is characterized by 3 candles , first being a green followed by a flat and the final being a red. as these are candles are in hourly chart i don't see a major hurdle and i believe trend is bullish . it will should break this barrier.
Trade active: i am long at around 590 levels
Comment: My daily RSI indicated a over sold position and CMF levels are above 0 and showing a upward trend in both hourly and daily charts. i am very bullish on this stock..should not dissapoint
Comment: Holding the Support line. expect a 3rd bottom then bounce to R1 levels
MOVING UPPPPPPPPPPPPPPPPPP
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will it touch 610 in Nov expiry ?
i'm holding 2 lots of Nov.
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JyotiSahoo sagarraut0007
@sagarraut0007, it had touched 610 last week. i believe you have averaged this stock. never do that .if you want to take a risk average only when the stock is at least fallen a goood mount so tat the new buy price is now achievable . 610 seems an easy target. it should achieve. but might not hold for long
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JyotiSahoo JyotiSahoo
near by 593 SL
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Expiry Day we might see volatility . It seems there is short build up but i cant say for sure. yesterday it took supp at 600. seems to like this is weak. just now it broke 600. i suggest have strict SL. if you are holding in cash you need not worry. sorry i cant give an direct answer cause i am not sure myself.
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Hi Jyoti,

possibility to break the 612 barrier before nov expiry?
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