trade_opportunities

LIC Housing Finance: Inverted H&S

Long
NSE:LICHSGFIN   LIC HOUSING FINAN
All levels are mentioned on the chart.

DISC: For educational purposes only.

Comments

price has taken support at important support zone. We can expect some good bullish moment from this level.
Great work. Keep it up !!
+2 Reply
trade_opportunities Harshit_bhadoriya
+1 Reply
Sorry, I found this analysis bit weird and very surprised it's an editor's pick. I mean no offence though, so please take it in the right spirit.

LIC Housing Finance is clearly forming a h & s pattern on the daily chart, which is a bearish pattern unlike inverted one ...

The price will rise in the near term, but once the price rises in the near term to 460 levels, the H & S pattern will prevail and price will be under pressure.

Furthermore, using wave model, it's highly probable that the on-going correction is not yet over.

That's my ten cents worth observation, only time will prove it one way or other.
+1 Reply
@Yadunath, Nothing to offend in this. You might have a different opinion than mine. Ultimately it will either give a profit or learning. Happy investing.
+1 Reply
@trade_opportunities and @Yadunath, you both are correct. we can buy at CMP and can wait for it to break the resistance at 460. if it broke it and it should come back to retest again. at that time of it started falling below 460 that means we can square off our position. and if it take support at 460 level then we can double the quantity. Correct me if I'm wrong.
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good sharing idea👌👌👍
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it is entery level of go L& T for long-term
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it is entry level
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Great catch on Inverted H&S.
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