Date: 29 June 2020
LIC Hsg Fin (CMP 264.55)
Head and Shoulders pattern is completed. Stock has today moved below the 20 & 50 DEMA. It is already trading very lower to 200 DEMA.
RSI is going down below 50.
Target: T1- 255, T2- 245, T3- 235; SL- 275
Target Date: 09 July 2020
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.
Please, take a second and support my effort by hitting the "LIKE" button, that's the only fee from You! ...
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