Trading strategies: LIC Housing Finance
Technical picks for the day by Indiainfoline
- LIC Housing Finance: LIC Housing Finance has signaled trend reversal from a medium term uptrend after prices closed below its 200-DMA in yesterday’s trading session. Moreover, the daily chart is forming lower tops and lower bottom and short term support for the stock placed at Rs250 which was broken convincingly and below same the downward momentum is expected to continue. This was also followed with breakdown from Symmetrical Triangle pattern. The amplitude of breakdown of triangle projects downside potential in the counter to Rs237.
Recommendation: Indiainfoline recommends traders to go short on LIC Housing Finance September Futures below Rs249 with stop loss of Rs255 for target of Rs237. (Duration 6 days)
- LIC Housing Finance: LIC Housing Finance has signaled trend reversal from a medium term uptrend after prices closed below its 200-DMA in yesterday’s trading session. Moreover, the daily chart is forming lower tops and lower bottom and short term support for the stock placed at Rs250 which was broken convincingly and below same the downward momentum is expected to continue. This was also followed with breakdown from Symmetrical Triangle pattern. The amplitude of breakdown of triangle projects downside potential in the counter to Rs237.
Recommendation: Indiainfoline recommends traders to go short on LIC Housing Finance September Futures below Rs249 with stop loss of Rs255 for target of Rs237. (Duration 6 days)
Click here to read the full reportWorld News
Other Articles
- Nifty may go down below 5700
- Nifty: Facing a key support level of 5680
- Reliance Industries: Buy on dips
- SPA's Morning Glance
- Monarch's Daily Market Outlook
Featured Author
 |
Punit Jain |
- Macroeconomic indicators & Stock markets
- Midcap/Smallcap Indices - Time to catch up and stop under performing?
- MF Scheme Analysis: Franklin India Bluechip Fund (G)
- Note on RBI's Monetary Policy Announcement for 2013-14
- South Indian Bank Q3FY13: Results in line with expectations, retain accumulate More
Also On IndiaNotes.Com
Personal Finance
Can I get my EPF related grievances addressed?8 steps to financial planningHow to choose the best Credit CardStock Recommendation
Greenply Industries Q4FY13: Net Sales increased by 18% YoYNCC: Net profit jumps to Rs271.83 mn, up 151.90% y-o-yNesco: To keep its growth story, maintain buyMarket Outlook
Week ahead: Nifty surging higher, the bulls remain in controlDow Theory: A tool for technical analystsEquity markets witnessed a choppy session of trade
Reader's Comments
Discussion
19th Jun 2013 | 12:20 pm
Technical : 20 June Tomorrow Free Calls
18th Jun 2013 | 11:00 am
Technical : Evening trading Level || intraday commodity tips