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[Long-Term]LICI Rising Channel Pattern Indicates Bullish OutlookIn this monthly chart of LICI, we observe a clear ascending channel pattern forming over the past two years. The price has consistently respected both the support and resistance trendlines, creating a strong bullish structure. Currently, the stock is bouncing off the lower support trendline, indicating a potential upward move towards the upper resistance zone. This offers a positive long-term outlook, especially if the momentum sustains. The key levels to watch are: Support Zone: Around ₹850–₹900 Resistance Zone: ₹1250–₹1300 Traders and investors can monitor for a gradual rise toward the resistance level. A breakout beyond this channel may open up new highs, while a breakdown below the support trendline would invalidate the pattern.
NSE:LICILong
by TradZoo