LICI. Is the trend about to change ?
Atualizado
After several trading sessions of LICI, the stock may have found it's perfect valuation to seek investors attention at the current price levels. LICI has seen a consistent downtrend move from the day it got listed, and now this might be a turnaround.
As per the fundamentals, the stock is curently undervalued and the company is expected to give decent figures in the upcoming quarters.
Moving on to the technicals, the stock has seen a consistent downtrend and today even though the stock saw a selling pressure, the stock has managed to form a "inverted hammer" candlestick on daily basis which here can be considered as first signal of bullish movement. Although, it's worth mentioning to wait for a confirmation candle tomorrow before going long. If the bulls managed to close the stock higher tomorrow, the stock could go upto the levels of 690-710 in short to mid term. On the down side, one may consider a stop loss of 662
The above analysis is just for educational purposes, investors/traders are advised to do their own research.
As per the fundamentals, the stock is curently undervalued and the company is expected to give decent figures in the upcoming quarters.
Moving on to the technicals, the stock has seen a consistent downtrend and today even though the stock saw a selling pressure, the stock has managed to form a "inverted hammer" candlestick on daily basis which here can be considered as first signal of bullish movement. Although, it's worth mentioning to wait for a confirmation candle tomorrow before going long. If the bulls managed to close the stock higher tomorrow, the stock could go upto the levels of 690-710 in short to mid term. On the down side, one may consider a stop loss of 662
The above analysis is just for educational purposes, investors/traders are advised to do their own research.
Nota
As per the yesterday’s analysis, the stock did showcased a bullish momentum right from the opening and went all the way upto the provided target levels, making a intraday high of ₹709.70. The stock closed at ₹690.15 and again a “inverted hammer“ candlestick pattern has been formed on the daily time frame. Investors/traders are advised stay a little bit cautious as the stock may retest it’s support level of ₹663-₹664. Volume levels are indicating a higher participation of investors which is a good signal for the stock to reverse the trend. Stop loss would still remain same at ₹662Investors/traders are advised to do their own research as well.
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