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Monday, January 16, 2012

Buy recommendation on Lic Housing Finance Ltd.

Lic Housing Finance Ltd
Weekly Chart


We are bullish on LIC Housing Finance Ltd and recommended buy rating on the stock with a target of Rs 300 and above.
On the weekly chart, LIC Housing Finance gave an upside breakout in Today's trading session. It suggests that the sideways range is about to end and may reverse into an uptrend. Volumes have also shown phenomenal increase in last few trading sessions. Stock is trading above its 50-WMA signifying strength in the medium term chart and is expected to remain strong in near term. Based on the technical evidences, we recommend traders to buy the stock on a daily closing above Rs 245.5 with SL of Rs 208 for target of Rs 300 & above.
Posted by Dreamz Consultancy at 2:26 PM

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