Guys, LIChsgfin CMP 410, just broken its upward trend line yesterday post results which was below expectation, it will test the previous swing low placed near 470 before any chance of bounce.
Do your own analysis before investing.
Trade active
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Nifty up 245 points but Lic housing fin going down steadily in the opposite direction as expected.
Trade active
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Maintain Closing basis SL of 440
Trade closed: target reached
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Target done, those holding position can book profit. Else hold with tight Trailing SL @ 385
It tested around 385 levels. Is it good for upward journey now? What's you further views on this counter?
onlineguru99
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@tejpreet1111, the low made 2 days back is crucial. If it can sustain above 380 level by next weekend then u can expect good reversal. I think most of price correction is over. There might be some time correction before next leg of unmove. Patience is key for investment.
tejpreet1111
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@onlineguru99, Thank you for your feedback and interesting inputs. What should be short to medium term upside targets. My average for now is 410.
onlineguru99
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@tejpreet1111, If you want more info, you can contact me via whats app 9884-280336
sankaralingam527
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I expect it will slow down upto 372.70. Then again it will reversed and go up to 575 to 600.00. This is my own opinion.
newbieintrading
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@sankaralingam527 it can also reverse from 405-406 levels....(as per weekly TF)
onlineguru99
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@newbieintrading, Its a possible scenario, but i go with high probability set up. Even if does reverse, I don't think it will reverse with full force to scare the short sellers.
sankaralingam527
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@newbieintrading, My analysis is correct. Now Friday Low is 374.55. Monday it will reach definitely Rs 372.70. So my prediction is purely correct.
onlineguru99
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@sankaralingam527, - Yeah it can and it will and what will happen first is the million dollar question, 370 or 575. Which event has higher possibility ? If it crosses and closes above upper trend line, I will surely change my view to Long position and book SL to my current position, until that happens I will be short.