LIC Housing Finance looks good to buy if sustain above 406 for the upper marked targets on the chart.
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On the weekly chart, the Share bounces back after hold a major support level at 373. If he holds it and momentum continues upward as per the chart then it going to test again at 450 levels in the near future.
Short term target is 450 from the current level
Long term target is 520 in 12 months
Note: This is for educational purpose only. Please do not trade in F&O based on this analysis.
There seems to be a bullish breakout with volume. RSI above 60 indicates bullish momentum. Moreover, relative strength shows crossing Nifty 50.
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As there's a good chance of lockdown in India and hence people are willing to buy home more and more. According to a survey 85% of people are willing to buy a house now than ever and hence a good portion will come as revenue for the Home Loan industry where LIC enjoys 20% market share.
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Entry Zone Above 562 or below 540
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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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