LICI (pitchfan tool)

Jul 28LICI 6 month breakout with stock made ATH .

The chart shows the price movement of Life Insurance Corporation of India (LIC) on a daily timeframe. Here’s the analysis for swing and long positions:

• The chart displays several trendlines which show the stock's downward and subsequent upward movement. The breakout above these trendlines indicates a shift from a bearish to a bullish trend.
  

Support and Resistance:

• Support Levels: Around 950 and 1100.
  
• Resistance Levels: Immediate resistance around 1200.
  Volume Analysis:
  Increased volume at the points where the price has moved upwards from the demand zone indicates strong buying interest at these levels.
  
  Breakout Confirmation:
  The stock has broken out above the trendline resistance and is showing strong momentum upwards, indicating potential for further gains.
  
  

  for Swing Trading

  Entry Points:
  1) Breakout Confirmation: Consider entering a long position on a confirmed breakout above the immediate resistance level (1200). Ensure the breakout is accompanied by strong volume to confirm the strength.
  2)Pullback to Support: If the price pulls back to the previous support level around 1100, consider entering a long position with a confirmation of a bounce back.
  
  Targets:
  1) Primary Target: Around 1300. This can be a target for taking partial profits or setting a trailing stop-loss.
  2)Secondary Target: Around 1400. If the stock shows strong upward momentum and volume sustains, aim for this higher target.
  
  Stop-Loss:
  1) Initial Stop-Loss: Place a stop-loss just below the support level around 1100 to manage risk in case the price moves against the trade.
  
  2) Trailing Stop-Loss: As the price moves in your favor, use a trailing stop-loss to lock in profits and minimize risk.
  

• Market Conditions: Keep an eye on broader market trends and news that might affect the stock price.
  

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Aug 7

Comment

bad news effects

Aug 14

Trade closed: stop reached

sl hit