Sell LIC Housing Finance - technicals ::HDFC Securities

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Observation
 The stock is showing negative bias for the short term.
 The stock has completed five wave advance in super cycle
degree, however the below chart shows only major degree five
wave advance. The stock has topped out for short to medium
term.
 Price has reversed from the rising channel setup which is a
bearish stance. In the first falling leg (wave a/i) price fell down
sharply below 397 and formed lower low, this is an initial
confirmation of bearish picture. Upward retracement halted at
61.8% and next fall is on cards towards 350 & 280 levels
which are 100% of “wave a/i & ii/b” & 61.8% retracement level
of rise from 153 to 464 levels respectively.
 Traders could short the stock between CMP to 434 with the
stoploss of 450 on closing basis for the targets of 350 - 280.

LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3010392