Breakout from Falling Trendline on Weekly Chart in LIC India
LICI
📈Pattern & Setup:
Life Insurance Corporation of India (LIC) is showing a potential breakout from a long-term falling trendline on the weekly chart. The stock has been consolidating just below the 900–920 zone, which has acted as a key resistance area multiple times in the past.
The current structure indicates that bulls are gradually gaining control, with price attempting to sustain above the trendline. Volume has started picking up, suggesting early accumulation before a possible breakout continuation.
📝 Trade Plan:
Entry: Accumulate between 900–910 levels (preferably on weekly closing confirmation above 915).
🚩Stop-Loss: 850 (below recent consolidation base).
🎯Targets:
Target 1 → 1040 (intermediate resistance).
Target 2 → 1200 (measured move target, 30% upside).
💡Pyramiding Strategy:
1. Enter first lot around 900–910.
2. Add above 940 on confirmed breakout with volume, trail SL to 880.
3. Add final lot above 1040 breakout, trail SL to 940.
🧠Logic Behind Selecting this Trade:
This setup is a clean example of a long-term trendline breakout after a prolonged correction phase. The price is forming higher lows with rising volume — a sign that the downtrend is weakening. Once it sustains above 915 on a weekly basis, the momentum could accelerate sharply towards 1200.
Keep Learning. Keep Earning.
Let's grow together 📚🎯
🔴Disclaimer:
This is not an investment advice. Always do your own due diligence before making any trading or investment decision.
LICI 📈Pattern & Setup:
Life Insurance Corporation of India (LIC) is showing a potential breakout from a long-term falling trendline on the weekly chart. The stock has been consolidating just below the 900–920 zone, which has acted as a key resistance area multiple times in the past.
The current structure indicates that bulls are gradually gaining control, with price attempting to sustain above the trendline. Volume has started picking up, suggesting early accumulation before a possible breakout continuation.
📝 Trade Plan:
Entry: Accumulate between 900–910 levels (preferably on weekly closing confirmation above 915).
🚩Stop-Loss: 850 (below recent consolidation base).
🎯Targets:
Target 1 → 1040 (intermediate resistance).
Target 2 → 1200 (measured move target, 30% upside).
💡Pyramiding Strategy:
1. Enter first lot around 900–910.
2. Add above 940 on confirmed breakout with volume, trail SL to 880.
3. Add final lot above 1040 breakout, trail SL to 940.
🧠Logic Behind Selecting this Trade:
This setup is a clean example of a long-term trendline breakout after a prolonged correction phase. The price is forming higher lows with rising volume — a sign that the downtrend is weakening. Once it sustains above 915 on a weekly basis, the momentum could accelerate sharply towards 1200.
Keep Learning. Keep Earning.
Let's grow together 📚🎯
🔴Disclaimer:
This is not an investment advice. Always do your own due diligence before making any trading or investment decision.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
TrendX INC
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.