India's Largest Insurance Provider
Owned by Govt of India
IPO was subscribed 2.95 times
Listed at Discount on 17 May 2022
Listed in the large-cap category
It is assumed that the poor listing of the stock is because of the adverse market conditions, but charts are telling a different story and also indicate further weakness in the stock.
Since the stock is trading in uncharted territory, we can derive support levels with the help of Fibonacci and harmonic patterns.
Current price action suggests that the weakness can continue further until the next support levels, which we have derived from Fibonacci i.e 723 levels.
So keep an eye on the price action, if you are keen on investing in LICI and look out for positive price action for spotting any bottom formation in the stocks.
Currently picking this falling knife can be disastrous for your portfolio, so sit tight and wait for the right opportunity and the right price for entering the stock.
Owned by Govt of India
IPO was subscribed 2.95 times
Listed at Discount on 17 May 2022
Listed in the large-cap category
It is assumed that the poor listing of the stock is because of the adverse market conditions, but charts are telling a different story and also indicate further weakness in the stock.
Since the stock is trading in uncharted territory, we can derive support levels with the help of Fibonacci and harmonic patterns.
Current price action suggests that the weakness can continue further until the next support levels, which we have derived from Fibonacci i.e 723 levels.
So keep an eye on the price action, if you are keen on investing in LICI and look out for positive price action for spotting any bottom formation in the stocks.
Currently picking this falling knife can be disastrous for your portfolio, so sit tight and wait for the right opportunity and the right price for entering the stock.
