Trend Update :

12 May 2021
LIC Housing Finance Limited (Rs.429.15)
NSE Symbol : LICHSGFIN

Current Trend : Flat

Brief background : Between 3rd and 5th May 2021, LIC Housing Finance changed gears and entered bullish zone at Rs.405-Rs.410. However, the upmove is still nascent and is expected to gain strength to evolve itself into an uptrend to surpass the recent high (Rs.487 - 18/02/2021).

Outlook : The current move is expected to move further upwards as the stock is well positioned on the charts. As of now, bulls are in control of the stock. Hence, long positions can be continued with a reasonable stop loss. A close and consolidation above the target price range of Rs.465 - Rs.475 will prepare a strong base for this uptrending stock to test the next target of Rs.575-585.

Stop Loss, Supports & Exit Point : Between the price range of Rs.422 to Rs.413. At Rs.405 another support exists. Breaching of support level at Rs.405 is an indication that bears are outnumbering bulls. Hence, breach of the support at Rs.405 may be considered as an exit point.