Life Insurance Corp of India (LIC) BreakOut Opportunity
Updated
Date: 17-Aug-2023
Rating: Buy
LTP: Rs. 659.65
Target: Rs. 678-->706-->724
SL: 645
LICI has given a break out from its primary down trend as well as from its resistance level of 650 with increased volume. 7/13/26 DEMA is showing bullish trend. MACD cross over is already done and RSI is showing strength to support bull run.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
Rating: Buy
LTP: Rs. 659.65
Target: Rs. 678-->706-->724
SL: 645
LICI has given a break out from its primary down trend as well as from its resistance level of 650 with increased volume. 7/13/26 DEMA is showing bullish trend. MACD cross over is already done and RSI is showing strength to support bull run.Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
Note
<b>Stop Loss</b>: 645<b>Exit Plan</b>: Follow the 7/13/26 DEMA cross down post bull run.
Trade closed: stop reached
Date: 1-Sep-2023LTP: 645.30
Looking bearish from here on-wards. On 30-Aug closed below the secondary uptrend line and on 31-Aug closed below the primary down trend line. RSI has created a negative divergence and MACD is also bearish.
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