Sell LIC Housing Finance for Rs 1165 target: Ashuu Kakkarr
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| In a chat with ET Now, Technical Analyst, Market Strategist, ashuukakkarr.com, shares his views on the outlook of LIC Housing Finance.
Where do you see a bottom for LIC Housing Finance in the near term?
The support zone may be closer to about Rs 1,165 or so. Below Rs 1,165, there is reasonable amount of support at Rs 1,124-1,125 zone. Below that, it can go down further. If one has already short in to the counter, the best way to trade would be keep a trailing stop loss. If the stock slides keep on sliding down, keep on trailing your stop loss down. Support zones are the ones which we can think of looking to close a short positions, and as of now the kind of negative news flow which has come in, it depends on how the institutions and FIIs are going to look into it and going to take a call.
Where do you see a bottom for LIC Housing Finance in the near term?
The support zone may be closer to about Rs 1,165 or so. Below Rs 1,165, there is reasonable amount of support at Rs 1,124-1,125 zone. Below that, it can go down further. If one has already short in to the counter, the best way to trade would be keep a trailing stop loss. If the stock slides keep on sliding down, keep on trailing your stop loss down. Support zones are the ones which we can think of looking to close a short positions, and as of now the kind of negative news flow which has come in, it depends on how the institutions and FIIs are going to look into it and going to take a call.
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