Go long in LIC Housing Finance: Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Broker told CNBC-TV18, "LIC Housing Finance has been consolidating for last almost two-three months between this Rs 320 to almost Rs 290 on the downside. In yesterdays trade, this stock has given a close above Rs 320 mark with a very strong volume as well as open interest participation. Today also we have seen a very strong price participation as well as lot of long accumulation happening."

"We expect the stock to cross it's all time high which is around Rs 355 levels in the short-term. So one can initiate a long position at current levels with a stoploss below Rs 325 for an upside target of Rs 355. In the last two months, the data clearly suggests that a lot of long accumulation has happened in this period, indicating that in the medium-term we expect this stock to target Rs 375-380 kind of level," he said.