Go long in LIC Housing Finance, says Rikesh Parikh

Go long in LIC Housing Finance, says Rikesh Parikh, Motilal Oswal Financial Services.

Parikh told CNBC-TV18, "Over the last weeks when the Nifty has been totally sideways Bank Nifty has given some amount of relative outperformance or it has shown sign of moving out as such. I think primarily it is due to the RBI meet next week and that’s why some long buildup seems to be happening over there."
He further added, "In the banking space ICICI Bank is looking strong and LIC Housing Finance looks on the positive side. The stock had been correcting quite a bit sharply from the higher levels all the way up to Rs 245 and from there today it has reversed and showing first signs of reversal. So keeping yesterday low around Rs 245-246 as stop loss one can look at going long over here in LIC Housing Finance."