indiamarketoutlook

LIC Housing Finance: Double trouble resistance

Short
NSE:LICHSGFIN   LIC HOUSING FINAN
LIC HSG FIN
Closing price 261.85

Observations

- Gap zone created on 4th May 2020

- stock faces resistance exactly at gap levels

- broken the channel in the process

- zone of 251-254 may provide some support

- once that level is taken out the stock may come towards the green line

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Consider selling on rise (preferably in the zone of 265-270) for target of 254 / 246 / 228

Pattern gets invalidated if stock goes closes above 282 on daily charts (for positional play)

Intraday traders may look to cut down the risk if stock closes above 272 on hourly chart

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Alternatively one may consider selling LIC HOUSING FINANCE 28 May expiry 280 Call Option around 14-15

Lot size 1300

Max profit potential Rs 18200/- to 19500/- per lot

In built loss protection in strategy for a rise up to 294

Take care..!!!
Be safe & be strong.

Trade active: LIC HSG FIN opens at 14.5
High so far 15
giving ample opportunity to sell in the range
Trade active: LIC HSG FIN 280 Call option update

Suggested selling in range of 14-15

CMP 6.1

Lot size 1300

Current profitability 1300*(14.5 - 6.10) = Rs 10920/-

Enjoy & have a gr8 weekend
Trade closed: target reached: LIC
CMP 223

Short idea given at 270 for target of 228. Target achieved

That's more than 15% captured. Hope you guys enjoyed .

Listen to charts & make it large.

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If interested, you may get in touch...

Regards

Comments

NICE ANALYSIS.I am also interested.
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Abhishek_Sreeni indiamarketoutlook
@indiamarketoutlook, i am interested sir
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Bully9 indiamarketoutlook
@indiamarketoutlook, Im interested.. Please let me know the details
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scalp07 indiamarketoutlook
@indiamarketoutlook, interested
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