LIC HOUSING Channel Breakout

LIC HOUSING FINANNSE

Description

⋅ Jan 24, 2018 1:50 AM

LICHSGFIN has been in a down channel for six months now. Currently on the edge, awaiting a breakout or reversal on account of results.

Comment

⋅ Feb 5, 2018 11:48 AM

Another Setup! HIT THE PLAY BUTTON.!!
After a good leg down, it reached the bottom edge of the channel. Watchout for a reversal/Breakdown.

Parallel Channel LICHSGFIN

Comments

Vinitpowar

⋅ Feb 5, 2018 2:24 PM

Great Chart, But today in Weekly Chart shows took support of SMA 200 @ 496
Weekly Charts Shows took support @ 513 and Manage to close above it

whats your view now in Bullish Mode?

Einstein15

⋅ Feb 5, 2018 3:57 PM

@Vinitpowar, THanks for the valuable input.Yes all the value you mentioned looks very precise. But since its a WIKI region, i'd take the bodies of the candles into account too. A lot of bodies n candle fall on 518 and 510 levels.
So one can consider it as an ambiguous zone.? Even if the last candle sit right on 200 ema, the scrip dosent hv a history of bouncing off that ema.((Infact in past it has bounced off the random 400 ema . dosent mean anything though))
It probably may follow NIFTY's direction tomorrow, lets see

nages.rao2011

⋅ Feb 5, 2018 1:51 PM

It may test 490 if market will go down...

Einstein15

⋅ Feb 5, 2018 3:58 PM

@Nages.rao2011, yea. Nifty;s direction will play its role.