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Published on 14/05/2019 4:15:17 PM | Source: Choice Broking Pvt Ltd

Buy LIC Housing Finance Ltd For The Target Rs.520 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #LIC Housing Finance Ltd #NBFC #Trading Report #Choice Broking

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* On a daily chart, the stock has taken the support of its lower band of Broadening Rising Wedge formation in which the stock has been trading since last many times, which indicates a bounce back movement in the counter.

* Moreover, the stock has taken the support of its 200 Days Moving Average which is placed at 480.35 level which suggests a rebound movement in the counter.

* On a smaller time frame, the stock has given a breakout of its Triangle formation with above-average volume which shows a robust upside movement in the counter.

* A daily momentum indicator RSI reading is at 44.10 level with a positive crossover which points out for a positive breath in the counter.

* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions.

Recommendation

Buy LIC Housing Finance Ltd  @483.00-485.45 SL 468 TGT 520

 

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