LIC Housing is trading in the range and it has maintained a strong resistence levels at 290-295. In last few trading sessions, everytime the stock corrects from those levels. As History repeats, we can short the stock at current levels with a strict stoploss of 300, Target open at lower side.
Recently the price have made a new all time high. Now all the news has factored in the price of stock. OI at 1700CE is increasing which acts as a resistance level for stock. Price has also made a Short hook setup at top with RSI in over bought levels. We can short the stock when we get the opportunity at right price. Maintain strict SL
Reliance have a strong Resistance level at 1600-1620 levels. Every time it reach those levels and correct from there. All positive news of various instruments have already been there in price and there are chances of some profit booking & Pullback. Inspite of rise in RELIANCE there has NO SIGNS OF UNWINDING IN 1600CE, which indicates that there can be correction in price.
As the price of stock rising but NIFTY 50 is falling. The price has reached near a level which was previous strong support levels. RSI is also over bought. We expect the price to slow down and give a correction before going further upside.
Look at Infosys Daily chart. It looks beautiful on TA. Recently it broke the resistance level, but again its trading under those levels. Also the short term trendline is supporting the stock. Once it breaks the short term trendline, it can rally further downside. Need to closely watch the stock.
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Keep a close watch, as EMA 121 plays a important role on this stock. currently the price is trading in that range. Even there is a price range in stock from last few days. Which ever side it breaks there after we can follow the trend. (Maintain strict SL)