Comments
LIC Housing Finance skyrocketed 13 per cent accompanied by good volumes last week, conclusively breaking though its immediate resistance level of Rs 210. Since January trough of Rs 150, the stock has been trending northwards. Nevertheless, the stock is currently facing its key resistance at Rs 235 levels. Reversal from this resistance can pull the stock down in a corrective decline to Rs 220 or Rs 210 in the near-term. Supports below Rs 210 are at Rs 190 and Rs 180.
Conclusive breakthrough of Rs 235 can take the stock higher to Rs 255-260 range in the medium-term.
Jubilant Life Sciences (Rs 174.7)
After recording a 52-week low of Rs 148.4 on Monday, the stock zoomed higher to finish the week with almost 13 per cent gains. The stock appears to have bottom-out from a medium-term perspective triggered by the positive divergence displayed in the daily relative strength index and moving average convergence divergence.
The stock can move higher until it encounters resistance at Rs 200 in the short-term. Failure to move above this level can result in the stock consolidating in the broad range of Rs 150 and Rs 200 in the medium-term.
However, a slump below Rs 150 will accelerate the stock's intermediate-term down trend and drag it down to Rs 135 and later to Rs 115.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.