LIC HOUSING (W)

Trends have been quite negative and despite the bullishness seen on the markets this stock has only headed lower. The prices have now breached the important supports and could tread lower. The prices are already trading below the ascending trendline. With the prices now breaching important supports on higher timeframes and the momentum too not supporting the recovery we can look for some sustained decline that could emerge in this counter in the coming weeks. Look to short with stop above 598 for a drop near 561.