LIC Housing Finance -Obstacles ahead but bullish chart
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.
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