Trends have been quite negative and despite the bullishness seen on the markets this stock has only headed lower. The prices have now breached the important supports and could tread lower. The prices are already trading below the ascending trendline. With the prices now breaching important supports on higher timeframes and the momentum too not supporting the...
LICHSGFIN has a presence of Divergences at Support level with good candlestick pattern and buying volume on Daily chart.
Stop loss looks like at 590.
I AM NOT SEBI REGISTERED. FOR EDUCATIONAL PURPOSE ONLY. NOT OF ADVISORY NATURE.
Weekly chart. ABCD in process. retrace (B to C wave) shot lil below 38.2% (Fibo Drawn from right to left). So not a perfect ABCD. Once the resistance breaks (721) one can buy for 910+ as target. Second target 970+. Stop (Exit) level below "C" wave = 600 on weekly candle closing basis. Time frame 4 to 5 months.
LIC HSG has been in a downtrend-correction for a while, testing the 200 EMA.
Juts bounced above it,probably ending its correction considering the lifetime charts,If only it can hold above 200 ema
Currently on the edge of the wedge, awaiting a breakout/reversal.
NSE:LICHSGFIN, CMP 622, has made Head & Shoulder pattern and may lead to a big fall now.
However we may see some retracement, to 640-680, before the action.
Sell LIC below 614 with SL of 690 (short SL 636). Target 550 / 520
Instead of keeping the short SL it will be better to hedge the trade and buy 630 CE @ <14 (buy only when the actual trade...
Symmetric Triangle formation on LICHSGFIN and it may break on either side. I have mentioned some levels for trading.
Levels for Long:
Level 1 - 569
Level 2 - 581
Level 3 - 593
Level 4 - 608
Levels for Short:
Level 1 - 547
Level 2 - 531
Level 3 - 517
Level 4 - 505