NeeteshJain
Short

LIC Housing Fin - Showing Weakness

NSE:LICHSGFIN   LIC HOUSING FINAN
It has been observed that the price action firstly formed a bearish engulfing candlestick pattern at the resistance zone indicating weakness in price action. This is also supported by bearish divergence in RSI , indicating further price action weakness. Therefore, from current levels price action may further dip down to the next support zone which can be seen at the previous gap up movement. Now expecting the price action to reach next support zone at 500 levels with SL 555

Target- 500
SL - 558
Comment: Moving fast as the time closes to final hour of trading.
Comment: Making slow progress but will be reaching there.
Trade active: With today's engulfing red candlestick, it further assures that the price action shall further dip to 500 levels or below. Going well
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