LIC housing finance has moved down from the high of 623 to 470 swiftly. This is followed by a weak retrace which is taking months to move up to 600 range. Now in the daily chart we can observer that this formed an inverted hammer rejecting the price above 600. We need to observe the further move. If the down move gathers momentum then we need to see a move towards 578, which should be strong. Then it should be followed by a weak retrace upwards. Again a move down breaking the low of the swing. That will confirm the down trend and an entry in to short postion.
Monthly chart:
Weekly chart:
Daily chart:
Monthly chart:
Weekly chart:
Daily chart:
