LIC Housing seems to be out of favor these days…almost 50% off its highs…being scam tainted did bring some bad press to it, but I feel the FII and other institutional money which were invested in it, saw their investment go up more than 3+ times, and they might have just decided to book profits and lighten up their load!
Nevertheless it’s a good stock to invest in and not bad at these levels, perhaps add a lil if we get it at 140-150. What you see above is a nice inv H&S happening, but mucho depends on the 200-05 range as the 200 periods MA is almost forming the neckline to this formation. The real strength in this stock emerges above 220; it is there it might get the attention of the breakout junkies!
Personally I would get into LIC Housing for investment and look elsewhere for a trading opportunity.
Hi Manoj,
ReplyDeleteJust to add that LICHSGFIN is back in flavour :)) being amongst the most active top ten securities (by turnover),so the interest is there.
Ur views will be helpful to trade it.
AAR VEE Hi,
ReplyDeleteYeah let us see how quick the interest comes back into LIC Housing...!!!
Cheers