LIC: Poised for a Breakout?

19 янв.

Key Points:

• LIC is currently trading at ₹906, near its IPO price of ₹906.
  
• A breakout above ₹906 could signal a bullish move.
  
• A pullback to ₹728 could offer a good entry point for long positions.
  

Technical Analysis:

1. The stock is testing a key resistance level.
   
2. A breakout would confirm a bullish trend reversal.
   
3. Volume is increasing, indicating growing interest.
   
4. The RSI is in the bullish zone, suggesting momentum is building.
   

Strategy:

Bullish:
Buy LIC if it breaks above ₹906 with a stop-loss at ₹880.
Target a move to ₹1050 and ₹1150 in the medium term.

Neutral:
Wait for a pullback to ₹728 to initiate a long position.
Risk Management:

Set a stop-loss to protect your capital.
Monitor the stock's price action and adjust your strategy accordingly.

Disclaimer:

This idea is for informational purposes only and does not constitute financial advice.
Always conduct your own research before making investment decisions.