Aditya Agarwala
On the daily chart, LIC Housing Finance is on the verge of a breakout from a channel pattern suggesting bullishness building up in the stock.
Further, the stock has broken out from wedge pattern triggering a resumption of bull trend. The RSI has turned upwards after forming a positive divergence indicating that the downtrend is losing steam.
The stock may be bought in the range of Rs 494-498 for targets of Rs 540-560, and a stop loss below Rs 465.
Disclaimer: The author Technical Analyst at YES Securities (I) Ltd. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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