Life Insurance Corporation Of India (LICI) Stock - Complete Technical Analysis - Oct 22, 2024

Technical Analysis of LIC Stock: Is a Rebound Coming

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. In our analysis of LICI, we find the stock currently trading at 916, facing immediate resistance at the classic pivot point around 1026 and the 50-day EMA at 1002. A break above these levels could open the door to further upside, while immediate support sits at 972. The stock shows a negative MACD, indicating bearish momentum, but the RSI is in oversold territory, suggesting a possible short-term rebound.

The ADX indicates a strong downtrend, so traders should exercise caution, particularly given recent volatility highlighted by the Average True Range. The stock has experienced sudden price drops, particularly from highs near 955, and lower highs and lower lows signify a bearish trend. However, there's potential for a reversal if the stock can reclaim the 1000 level, turning bullish in the medium term.

In summary, keep an eye on the resistance at 1026 and support at 972 while monitoring for signs of a trend reversal.