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Sell LIC Housing Finance Dec future; target Rs 198: IIFL
According to IIFL, traders can sell LIC Housing Finance December Futures between the range Rs 208-210 with stop loss of Rs 215 for target of Rs 198, in its November 25, 2011 research report.
According to IIFL, traders can sell LIC Housing Finance December Futures between the range Rs 208-210 with stop loss of Rs 215 for target of Rs 198, in its November 25, 2011 research report.
"The recent pullback in LIC Housing Finance from the low of Rs 424 has fizzled out near its upper trendline of the trading channel placed at Rs 513, as we saw a sharp cut in last two weeks. In last few week, the stock fell the support of lower Band of Envelope suggesting continuation of the downtrend and in yesterday's trade the stock gave a close below its 200-DMA. On the daily chart, the stock has been forming the pattern of lower high and lower lows. We advise going short on LIC Housing Finance December Futures between the range Rs 208-210 with stop loss of Rs 215 for target of Rs 198," says IIFL research report.
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