Since from the beginning of the year, LIC is in Downtrend. Share prices have fallen by almost 30% so far.
Even though the entire market including Nifty, Bank Nifty and Fin Nifty was on shaky foundation this year, LIC has underperformed most of these indices by large degree.
Take a look at the Price Action Analysis
LIC Price Action Analysis on 1D Chart
Notice the beginning of Downtrend, Stock prices has tumbled from 740 to all the way till 530.
At the time of writing this content, LIC Stock prices are trading around 547
As of now, we can see a minor consolidation on the price which indicates that we may witness some sharp movement on the stock in upcoming days.
The Downtrend looks good and there are no signs of reversal so far. Hence my thought is that, prices could continue to fall till 500, unless and until we see a sharp upside move.
To learn more about a specific Price Action Strategy that takes advantage of trends and makes decent profit in market trends, take a look at the video given below.
What is your outlook on LIC? Upside or Downside? Let me know in comments…
