LIC Housing Finance - This Is Not Trending as Yet

LICHSGFIN had shown some promise, but it is finding 310 a difficult barrier to break. Although it has broken a down channel, and take a significant support, the bounce up has been weak, making it a dodgy candidate for trend traders. The new smooth ADX shows that the stock is in a weak trend, and if some push does not come within the next two days, we would see LICHSGFIN doing a drunken kung-fu moves in this zone. Any push coming in would take it to new heights. Trail longs with stoploss below previous day's low.