Monday, February 25, 2013

LIC Housing Finance

LIC  Housing Finance was in a trading range for almost 2 years. After recent break down of the channel, stock seems to be going down. But the simplifying norms for new Banking license and the brand name LIC is having, it may get the banking license which is positive to the company.

Technically, stock made a Doji on 22nd Feb 2013. After the Doji, there is a gap up opening and stock was moving in uptrend. After a Doji a gap up is always trader friendly to go for a trade in the same direction in which gap up happened.

So Stock seems to be taking U turn here to move up again. Expecting the budget in few days which may impact the market, go long with SL at 237.

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