LIFE INSURANCE CORPORATION OF INDIA | TECHNICAL ANALYSIS | @priceactiontrader13 | MARKET WALE

STOCK : LIC (LIFE INSURA CORP OF INDIA)

CMP : 626.75 (05/07/2023)

ABOUT : The Life Insurance Corporation of India (LIC) is the largest life insurance company in India. It was established in 1956 when the Parliament of India passed the Life Insurance of India Act, nationalizing the private insurance industry in the country. LIC operates as a state-owned insurance group and investment corporation.

TECHNICAL ANALYSIS CANDLE STICK CHART VIEW (DAILY TIME FRAME)

(CLICK ON IMAGE FOR CANDLE STICK CHART VIEW)

OBSERVATION :

The stock was in a DOWN TREND since the day of listing & recently the stock has give a breakout of its TRENDLINE and getting retest. once the weekly candle of a stock closes above 660 we can expect the stock to show good upside around 15-20% coming day & weeks.

As per pivot points levels the stock is trading near its pivot levels of 626 if its fail to sustain above this further we may see more down side move as per technical analysis  

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Note : It's important to note that the pattern is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

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