LICI Lic India
Shows weakness after hitting his trendline resistance.
in daytime frame price standing on support zone and also take support after gap down opening
Plan:
1. daytime making spinning top with high volume, there is high chance to reversal may not be immediately, but reversal can be possible. price also stand at support zone 402-389.
2. weekly time frame shows clearly weakness, but good fundamental stock can be going sideways rather than to downside. weekly time frame major support zone 375-360. (Note: Weekly candle still has time to close)
3. Price follows the pattern and breakout the pattern then high chance to make new all-time high.
Plan Failure:
1. SL hit out of the trade.
2. As per investment purpose you can add more on support level.
Please follow risk to reward ratio.
Please do your own research before taking any decision.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.