LIC Housing has target of Rs 253-256: Hemant Thukral

Hemant Thukral, National Head-Derivative Desk, Aditya Birla Money is of the view that LIC Housing Finance has target of Rs 253-256.

Thukral told CNBC-TV18, "The banking and the financial side of the market has been doing good and now the largecap banking stocks or financial stocks have seen huge long positions carried week on week whereas LIC Housing Finance saw first long position being built-up on Friday. So it’s more of a catch-up rally and one can see that it’s now starting to outperform."
He further added, "The stock is quoting now above Rs 244 so that gives me a comfort, keep a stop loss of Rs 240, again I am keeping a very tight stop loss because of the market, the levels it is currently. The rally may continue to Rs 255-256. So anybody who is going long today, keep a stop loss of Rs 240 and a target of Rs 253 and Rs 256."