Life Insurance Corporation, India: Symmetrical triangle breakout
Updated
LIC's chart shows a symmetrical triangle breakout with good volume.
Ideal entry on close above 692 looks good on weekly charts.
If it gains momentum and strength, can see it achieve targets of 755 and 850 in short to medium term. And thereafter, its IPO price.
Would be cautious if it falls below 599.
Manage strict stop loss of 5-8% in your trades.
Note: Personal views. Not a buy/sell recommendation. Do consult your advisor.
Ideal entry on close above 692 looks good on weekly charts.
If it gains momentum and strength, can see it achieve targets of 755 and 850 in short to medium term. And thereafter, its IPO price.
Would be cautious if it falls below 599.
Manage strict stop loss of 5-8% in your trades.
Note: Personal views. Not a buy/sell recommendation. Do consult your advisor.
Trade active
850 achieved last week.
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