Siddharth Bhamre of Angel Broking told CNBC-TV18, "Ashok Leyland has seen formation of long positions trading at much higher levels breakout but that’s not our preferred list. Though we are positive on banks but we have very particular view on real estate and related to that we have couple of strategies. What we are anticipating that for next one and a half and two years the residential property prices may not be that great and people are getting carried away in this housing finance companies but we are not so very positive."
"LIC Housing Finance if I look on charts then if I merge muhurat trading candle and the candle before that and yesterday’s price move then it is bearish and engulfing pattern which has been formed and momentum oscillators are also pointing downwards. Plus in futures and options (F&O) we have seen formation of short positions, so that’s a shorting candidate for us. We have short trade over there with a target of Rs 308 and stoploss of Rs 345," he added.
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