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The stock of Life Insurance Corporation bounced off the support at ₹585 last week. Whilefacing a resistance at ₹608 for the past few sessions, it breached this level on Wednesday. Thus, the chances of a rally is high, especially on Thursday.
One can consider this stock for intraday buys on Thursday, i.e. go long at the current level of ₹610 with stop-loss at ₹598. Since it might rally to ₹630 intraday, this can be the target. However, if the stock opens below ₹600, refrain from trading. Also, if there is a gap-up, wait for the price to dip to ₹610 before buying.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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