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!...
NSE:LICHSGFIN
Only for education and information purpose. Should not be taken as a trading call
The script has been trading very well with and taking the support of both the trend line and the cloud too further looking at the future the cloud looks positive. If holds we may see the levels of 505 and 546 in an uptrend on the lower side we may consider the next...
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.
LIC HSG FIN is in a channel for quite some time. Now it is testing channel support. This time the down move was not clean, besides Market sentiment is bearish. Lets see how price action turns out
LIC Housing Finance Limited is engaged in the housing finance business. The Company provides loans for purchase, construction, repairs and renovation of houses/flats to individuals, corporate bodies, builders and co-operative housing societies. It operates through its subsidiaries, which include LICHFL Care Homes Limited, which is engaged in the business of setting up, running and maintaining assisted living community center/care homes for senior citizens; LICHFL Financial Services Limited, which is engaged in the business of marketing financial products and services; LICHFL Asset Management Company Limited, which is engaged in business of managing, advising, administering mutual funds, unit trusts, investment trusts and to act as financial and investment advisors, and LICHFL Trustee Company Private Limited, which acts as a trustee to venture capital trusts and funds. The Company operates primarily in India.
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LICHSGFIN
