LIC Housing Fin is likely to trade in Rs 200- 250 range, says Rahul Mohindar, Director, viratechindia.com.
Mohindar told CNBC-TV18, "If you look at airline stocks they look weak and particularly my eyes went to Jet Airways there. The stock has already tumbled today but over the next couple of weeks you might see the stock heading into a new intermediate low. So we have a set up which points towards over 10-15% cut on this stock. One could initiate shorts here. If you look at the long side I have been watching some accumulation patterns in stocks like CESC . So there the downside could be somewhere between Rs 230-240. One could start nibbling in and as an investor at least for the horizon for 6 months."
He further added, "Another stock which has been consolidating for quite a long time is LIC Housing. Of course there were wide ranges on this over the last 6-8 months. Somewhere between Rs 200-250 that being the oscillation still remain in that range but the signs are that we would finally break out towards the upside on the long term. One should start nibbling into both these stocks on the way down."
