When the closing price falls below the VWAP, it signifies that the closing price is lower than the average price at which it was traded throughout the day, with the average being weighted by trading volume.
Geojit is bullish on LIC of India has recommended buy rating on the stock with a target price of Rs 823 in its research report dated November 28, 2023.
LIC saw a decisive breakout of long falling resistance trendline adjoining highs of December 20 last year, and August 11 this year. The stock has formed a bullish candlestick pattern with long upper shadow on the daily charts with strong volumes.