In the previous session, the Nifty index opened on a negative note and witnessed consolidation on the higher side throughout the day. On the technical note, the index formed a small bullish candle on the chart and closed on a flat note. Market looks volatile in the coming sessions, hence a cautious approach is advisable for the next trading day.

Look at the below research report of ‘Stocks to Buy for Thursday, December 29,2022 before the market opens.

LIC Housing Finance Ltd.

LICHSGFIN stock price has been consolidating since a few days near 417-418 levels and is currently moving near the neckline. This zone has now become an important resistance for the stock. In the previous session, stock retested the same level with positive momentum but didn’t close above the break out zone. The Relative Strength Index (RSI) on the daily chart is 58, indicating bullishness. A move above 418 will indicate the fresh buying in the stock.

In short, the trend for LICHSGFIN looks to be positive for now. Positions can be created only above 418 levels, which can take prices towards 429/440 levels. On any weakness in the market, If stock slips below 20 EMA support we need to review the technical setup and chart structure.

Check More Analysis on LICHSGFIN at: LIC Housing Finance Ltd.