🔻 LIC — Bearish Breakdown on Weekly Timeframe

LIC is showing a significant bearish technical development on the weekly chart, with price breaking below a multi-year rising trendline.

The breakdown is accompanied by a sharp increase in volume, adding credibility to the bearish structure and suggesting a potential shift in medium-term momentum.

The stock has also failed to sustain above the ₹450 resistance zone, which has acted as a major supply area over multiple attempts.

Key Levels to Watch

Immediate Support: ₹375
Major Support: ₹350
Next Support Zone: ₹325–₹320
Major Long-Term Support: ₹300

On the upside, ₹415–₹430 becomes an important resistance/retest zone. A recovery into this area followed by rejection could strengthen the bearish setup.

Bearish Scenario

A sustained weekly close below ₹375, followed by a breakdown below ₹350 with strong volume, could open the possibility of a deeper correction toward ₹325 and potentially ₹300.

However, the ₹300 level should be treated as a technical downside zone rather than a guaranteed target. Price action around ₹350 and ₹325 will be important for confirmation.

Market View

Trend: Bearish 🔻
Structure: Rising trendline breakdown
Volume: Strong bearish confirmation
Resistance: ₹415–₹430
Major Resistance: ₹450
Support: ₹375 / ₹350 / ₹325 / ₹300

LIC has entered a critical phase. The next few weekly candles will determine whether this is merely a correction or the beginning of a larger structural decline.