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Published on 8/04/2020 10:28:29 AM | Source: Motilal Oswal Financial Securities Ltd 

Sell LIC Housing Ltd 2-3 Days SL 230 Target 191 CMP 217 - Motilal Oswal

Posted in Broking Firm Views - Short Term Report| #LIC Housing Finance Ltd #NBFC #Trading Report #Motilal Oswal Financial Services Ltd

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Technical Trading Idea

LIC Housing Ltd

* LICHSGFIN is moving in a strong downtrend and sustaining well below its major support of 270 zone. After an inside bar formation on weekly chart, it showed bearish momentum in yesterday’s trading session, which is a negative sign for the stock. Despite yesterday’s strong rally in the broader market, stock failed to move higher and ended in negative territory for third consecutive session.

* Considering overall chart structure, we are expecting the stock to continue its ongoing correction towards 191 levels in coming days. Thus, traders are advised to take a short trade with a stop-loss of 230.

Sell LIC Housing Ltd 2-3 Days SL 230 Target 191 CMP 217

 

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