LIC Housing Finance, very close to breakout for Downtrend

on 10-10-2008
Closing Price: 221.1000

A Descending Triangle pattern, Rounded Top & Double Top formed indicating a possible trading opportunity. A Descending Triangle is bearish. It is usually (but not always) preceded by a downtrend. The probabilities favor a continuation of the prevailing trend. An aggressive trader wanting to front-run a confirmed breakout signal may place a sell-stop for entry at 203.40. But for sure fall, please wait till it close below 218. Target is Huge. Keep it in your radar.

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