LIC Housing Finance on daily chart looks weak.
TP is 489, target 471
If your idea matches mine open short, I will keep you posted as price moves. This is my third idea on this stock.. past 2 Ideas has fulfilled target as suggested, I hope will same here.
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LIC Housing Finance has been moving in very nice parallel channel for a long but it’s looking week on daily chart so there is high probability it can break channel.
After it breaks channel, if you want you can wait for confirmation on 1 or 4 hour chart for red bearish candle.
TP is 516, If it breaks below 510 target are 502, 487
If your idea matches mine open...
Looking at daily chart, LIC housing is in uptrend since Oct 2018 and going up in cyclical very nicely. LICH has recently reversed from new high by resistance trend line showing target of 510 at its support trend line.
As per the H&S pattern, 1st target: 305 which is also the 2nd support after (395 :this was the 1st support level, post which the stock bounced back).
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true
Guys LICHSGFIN makes new trend keep watch the trend line then enter the trade...
Entry Zone Above 562 or below 540
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
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Based on my PredictiveSystem's signals, its going to be a RED candle on 01-Jun-2018 for LICHSGFIN
Sell Below: 474 for targets -
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please do your own research before attempting...