Buy LIC Housing Finance August Future at Rs 560
Target: Rs 575
Stop loss: Rs 552
Rationale: We have seen Long positions being built in LIC Housing Finance futures’ during the August series till now where we have seen 8% Rise in Open Interest with Price rise of 6%
The stock price has given a breakout on the daily chart on Monday by closing above the resistances of 540 levels with higher volumes
The stock price is trading above its short term and long term moving averages Indicating bullish trend for the short and medium term
Momentum Indicators and Oscillators are Indicating strength in the stock for the short to medium term.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.