LIC: Poised for a Breakout?
Key Points:
Technical Analysis:
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.
- 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:
- The stock is testing a key resistance level.
- A breakout would confirm a bullish trend reversal.
- Volume is increasing, indicating growing interest.
- 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.
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