LIC Housing Finance should head towards Rs 540: Amit Gupta

Amit Gupta, Head - Derivatives at ICICIdirect told CNBC-TV18, "LIC Housing Finance can be looked at because this was a leader of the pack but it remained range bound for quite a long time. We had seen that Rs 420-480 was a range precisely and around Rs 475 there was a big short block in Future segment which finally was taken out first time after the last quarter's result. Then short covering is again and again panning out.""Yesterday there was a good move and there was a closure of almost 7 percent positions in open interest. So that shows that short covering has started to pan out in LIC Housing Finance which eventually should take it higher towards Rs 530 or Rs 540," he added.