LIC share price today gave a good breakout on daily time frame, today’s volume is very good, it gave breakout after consolidating for 1 month. LIC Share price today rises 9.71% and closes at 677.65, the stock price was trading below 200 EMA for last one month.
As you can see the share price of LIC today gave a breakout and before that it was facing rejection from the trendline multiple times. Today it closes above trendline and 200 EMA too.
LIC Fundamentals
Life Insurance Corporation of India has a market cap of 4.28 lakh crores, it is a debt free company with huge cash reserves of more than 38000 crores. Ticker by Finology has given the share a 3 star rating. Sales and profit of LIC is also growing and promoters holds 96.5% of share.
Summery
LIC is a leading player in insurance sector, after breakout the stock could give a good move. if it keep moving upward the next target of share could be 745-750.
IMPORTANT NOTE – I am not a SEBI registered financial advisor and my all share research is only for educational purpose. Please take advice from your financial advisor before buying any stocks. I may or may not hold the stocks which I share on my website, if I hold the stocks I could sell them tomorrow or keep them for 10-20 years, it is totally depend on my risk taking ability.
Updated LIC Share Price on 18th December 2023
I updated about the daily trendline breakout of LIC share on 24th November, at a level of 677.65. It over achieved my estimation with a quick move and made a high of 820 on 14th December. A straight up move of 21% in 24 days and someone can capture 16-18% easily because there is no retracement in it.
