Buy LIC Housing Finance with price target of 260: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, shares his views on LIC Housing Finance.

ET Now: What is your call on LIC Housing Finance?

Mitesh Thacker: LIC Housing Finance is a buy call as the stock has gone through good consolidation, managed to come out of a negative price pattern. So once it starts trading above 246 you would see stock in good momentum on the upside. So, buy above 246.25, keep a stop below 240 and look at a price target of 260.

Now, the breakout may not happen today because we are talking about consolidation. So it might happen possibly on Monday or on Tuesday but that will be a very important breakout whenever the stock manages to get past levels of 246.