Lovelesh Sharma
2 Nov • 1:22 PM · SEBI-Registered Analyst
LIC Housing Finance: ₹490 double-bottom support in focus
LIC Housing Finance is trading near ₹502 after revisiting the ₹490 area twice in recent price action. This creates a potential double-bottom structure, where the same support zone has attracted buyers on two separate declines. The pattern is constructive only while ₹490 remains protected.
The first low near ₹490 was followed by a sharp recovery, and the latest dip again found demand around the same area. That shows buyers are defending this price zone. However, a double bottom is not confirmed merely because support holds; confirmation comes only when price crosses the pattern neckline.
The immediate neckline is around ₹518–₹520, where price has faced repeated resistance. A sustained move above ₹520 can activate the pattern and open room toward ₹540–₹550. If momentum continues, ₹570 becomes the next higher resistance zone visible on the chart.
The invalidation level is equally important. A decisive close below ₹490 would negate the double-bottom idea and expose the ₹480–₹470 area. So this is a clean price-based setup: ₹490 is the base, ₹520 is confirmation, and the move should be judged by whether price can hold support and break the neckline.



