BUY LIC HOUSING FINANCE ABOVE 406LIC Housing Finance looks good to buy if sustain above 406 for the upper marked targets on the chart.
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InvestPro India Team
LICHSGFIN trade ideas
lic housing finance This study is for educational purposes only, do your study and trade on your the basis of your risk management with advice of your advisor.
370 is major support for lic housing finance, we can see strong bounce back from 370 soon on intraday basis or for swing basis but my view is not highly bullish on this stock bcz of 413 resistance. so it will not going to easy for lic housing finance to break 413 and 370 .
still we can think to trade by creating some legs in option of lic housing finance.
we buy stock at 370 and can sell call option of next month for strike price of 450
and at same time sell put option of strike price of 350.
if trade goes on right direction then we can see good trade for
Price action screaming buy!! Or is it as simple as it looks?If we go by the textbook definition of a falling wedge pattern, the price consolidates between two downward sloping & converging lines forming a wedge shape. (Not as difficult as it sounds, just looks at the chart).
As per a common understanding of this pattern, the price continues higher after a breakout to the upside.
Price action in LIC Housing finance shows a nice breakout of the falling wedge pattern.
The price broke out with a strong candle and above-average volumes.
This is a perfect condition for a buy trade.
But wait, This is not the complete technical picture. Keep reading
We recently saw how a bullish Inverse head & shoulder pattern failed in HDFC, even though it had a perfect breakout condition, Positive news about the merger and almost all ideas on trading view were out rightly bullish. (Check HDFC idea in my profile, neutral and saved myself from loss)
If it were as simple as identifying a pattern and taking a trade, everyone would be making profits in the market.
Back to LIC Housing Finance:
Along with the falling wedge, there are other technical factors.
Two important levels to watch are the 200 days moving average, and the Horizontal S&R line at 389.25.
The price has taken support or resistance at this line multiple times in the past.
Let’s look at the positives first:
• Perfect falling wedge pattern & breakout with a strong candle and good volumes.
• MACD trending higher and in positive territory. RSI Strong, and other indicators in the positive territory.
• Price finished its correction exactly at 61.8% Fibonacci ratio with Price RSI positive divergence before the correction ended.
Now the Caution Signals:
• Price trading below Strong resistance line at 389.25 and struggling to cross above.
• Price below 200 days moving average (a strong resistance level). 200DMA currently trading at @400.
• Whole numbers are considered psychological S&R levels and 400 is a psychological level.
• Fibonacci 38.20% level @ 405.60 may act as minor resistance.
Combining these points, we get a strong resistance zone between 389 to 400 and minor resistance at 405.
A breakout above the wedge pattern is the first signal. The price has to breakout above the resistance zone.
If the breakout happens, wait for the price to retest 200dma or Horizontal line @ 389, whichever is higher at the time.
I give more weightage to Horizontal S&R lines because these are the points where most buyers/sellers are concentrated.
200DMA is definitely a strong resistance and there will be many sellers at this level.
I’m cautiously bullish on this stock.
The best way to avoid failure is to wait for the price to give us a confirmation.
I will be following the price movement closely and update this idea when I get a buy/sell signal. So follow me and stay tuned for the next update.
Post your comments. Let’s have a discussion.
Happy trading.
Co-Authors:
in.tradingview.com
in.tradingview.com
Disclaimer:
This is not buy/sell advice. Please do your due diligence before making any trading decision or consult your financial advisor.
Sharing my analysis and thoughts for a stronger and healthier community. Cheers
LIChsgfin @ 393 may target 425 levels soonLIChsgfin is looking good for targets 415/425, open interest buildup is good in the stock.
Wedge pattern breakout in LICHSGFIN.Today's session look at Wedge pattern in LICHSGFIN . According to this pattern expected next target 490+.
LIC Housing Finance BreakoutJust trying it for first Time. LIC has given a breakout with huge volume so one can take the entry at CMP. Marked some of the Important levels my first target is 425 and then second target could be 450 it can also touch its 52 week high. keep a eye.
LIC HOUSHING FINANCE has started its journey to the sky.This stock has broken the wedge with good volume. At least a 40% up move is expected in short term.
#Lichsgfin cash : Looks good above 375.10#Lichsgfin cash -Positional call
03 April 2022
Looks good above 375.10
Target 398-408
Sustain above 410 target 440/480
Cmp 372.25
LIC HOUSINGA possible breakout of falling wedge pattern
1. High volumes
2. A big reversal candle
3. RSI showing strength
4. Housing finance sector showing strength
Falling Wedge | LIC Housing |Today price recover from EMA 20 and given a good closing with rising volume.
The entry will be at breakout of resistance trendline and as per 15 min chart (refer below).
15 min time frame
LIC Housing Finance on the move after the correctionAll details marked in the chart - some salient points are :
1. The non limiting triangle as the X wave indicating the end of the complex correction.
2. The thrust down within prescribed limits of the longest leg of the triangle.
3. The zigzag exactly hitting the 0.618 level of the previous 5 wave move.
4. The thrust creating the truncated zigzag .
all indicates reversal…
So expecting an immediate target of 395 + and further beyond
This is for educational purpose only
Add To Watchlist This scrip is expected to give some decent returns in the coming days. So traders keep on your radar to catch the momentum. Thanks to all 🙏🙏🙏
LIC HOUSING FINANCERespecting a Trendline in Hourly.
Looks good above 357.
Wait for the breakout to take entry.
Levels are mentioned in the Chart.
LIC HOUSING : CASE OF BULLISH REVERSALStock is making a diagonal pattern, (should be treated as leading diagonal) . Anticipating a bottom formation one should go long on the stock on current levels with SL of 320 (clbs) and look for the target of 410 and 450 .
LIC BuyLIC Housing Finance Buy Signal
This stock has formed Falling Wedge pattern with good intensity of volume . One can go Long when 346.80 level is broken and start accumulating quantities in systematic way. After it breaks the channel and retest the channel, invest your entire capital per stock that you have allotted as per your total capital.
L&T HOUSING FIN Major resistance or BO?Lic housing fin working on down trend channel. yesterday it was given positive move with huge volume for more up side it should cross and sustain above 400-425, which is not seems positive as per indicator positions. it also form H&S pattern on monthly chart . it has target for down side 300,So better to use this bounce to take exit.
lic housing made double top short below privios day low , rsi shows divergence , also tradline resistance
LIC Housing Finance - swing The falling wedge pattern breakout.. if continue go for buy..
for education purpose only
