Recommended Stock of the Week – LIC Housing Finance Ltd
LIC Housing Finance Ltd is one of the largest Housing Finance company in India. The company is engaged in the business of providing loans for purchase, construction, repairs and renovation of houses/flats to individuals, corporate bodies, builders and co-operative housing societies and has its operations within India. They provide loans for homes, construction activities, its corporate housing schemes.Company also provides finance on existing property for business / personal needs and also gives loans to professionals for purchase / construction of Clinics / Nursing Homes / Diagnostic Centers / Office Space and also for purchase of equipment’s.
SHORT TERM PERSPECTIVE OF LIC HOUSING FINANCE LTD:
|LICHSGFIN||Buy||Rs 530||Rs 600/620||2-3 Weeks|
(CMP – Rs 557.75)
Intermediate trend is up in LICHSGFIN, from last couple of months stock is trading in a consolidation mode and trying to make a base around 50 EMA. As of now it has given a flag breakout on weekly charts, this seemsa bullish pattern in nature. Hence one can initiate a buy position at current levels with a stop loss of Rs 530(closing basis) for the target of Rs 600-620. Time frame should be 2-3 week.
Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014
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