SWING IDEA - LICLife Insurance Corporation of India (LIC) , a leading insurance company, is exhibiting technical signals that suggest a promising swing trading opportunity.
Reasons are listed below :
1080 Zone Tested Multiple Times : The 1080 level has been a significant resistance zone. The price is now attempting to break through this level, indicating strong bullish momentum.
Bullish Marubozu Candle on Daily Timeframe : The recent formation of a bullish marubozu candle on the daily chart suggests strong buying pressure and potential for further upward movement.
Bullish Engulfing on Weekly Timeframe : The presence of a bullish engulfing candle on the weekly chart indicates a potential reversal in trend and strong buying interest.
Trading Above 50 and 200 EMA on Daily Timeframe : The stock is trading above both the 50-day and 200-day exponential moving averages (EMA), reinforcing the bullish sentiment and providing strong support levels.
Constant Higher Highs : The stock has been consistently making higher highs, indicating a strong uptrend and sustained bullish sentiment.
Spike in Volumes : A noticeable increase in trading volumes confirms the strength of the price move, indicating strong investor interest and participation in the current trend.
Target - 1170 // 1250
Stoploss - daily close below 990
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