Buy LIC Housing Finance, target Rs 500: Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "LIC Housing Finance has been making higher top higher bottom formation on weekly chart. The stock is all set to move upwards after the recent price correction. It is also taking support near its 50-day moving average and adding built up of lower position by more than 5-7 percent."

"We are expecting it to start its next round of momentum, buy with a stop loss of Rs 448 for the upside target of Rs 500," he added.

At 10:59 hrs LIC Housing Finance was quoting at Rs 473.50, up Rs 5.25, or 1.12 percent. It has touched an intraday high of Rs 475.60 and an intraday low of Rs 471.